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MNI BRIEF: UK OBR Forecasts Out On Oct 31, Before BOE Meeting

(MNI) London

The Office for Budget Responsibility's official forecasts will be published on Oct 31, Chancellor of the Exchequer Kwasi Kwarteng announced on Monday.

This means that the Bank of England will be able to factor the forecasts into its November policy decision. The Treasury only announced its planned giveaways in its recent mini-Budget, without revealing any offsetting spending cuts or tax rises. The MPC will now be able to digest and react to the full fiscal arithmetic, with BOE Chief Economist Huw Pill having previously said that the mini-Budget would require a "significant" policy response. (See MNI INSIGHT: Functioning Market Allows BOE Gilt Buying Exit)

MNI London Bureau | +44 203-586-2223 |
MNI London Bureau | +44 203-586-2223 |

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