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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
UK DATA
MNI (London)
- At £25.6bln in April, UK public sector net borrowing (PSNB ex) was £3.1bln above OBR forecasts and £6.5bln higher than consensus expectations. This April, PSNB ex was £11.9bln higher than April 2022.
- Energy support schemes, benefit payments and higher interest payments on debt accounted largely for the uptick. The increased interest payable on gilts in April was the third-highest on record.
- This was the second highest April borrowing on record and reflects April increases in benefit payments (increased to buffer against declining real value on the back of high inflation).
- A public finance neutral entry in April, but worth noting is HMT paid £9.8bln to the BOE for the APF scheme.
- March debt to GDP (FY22/23) (ex banks) 99.1%. 2022/23 borrowing was revised down by £2.1bln, to £137.1bln, which is £15.3bln less then the OBR forecast.
Source: ONS
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
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