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MNI (London)

Wednesday sees another quiet session in terms of data events. The main release in the morning is the UK public sector finances at 0700BST.

UK borrowing forecast to decrease

Public Sector Net Borrowing is expected to tick down further in June with markets looking for a dip to GBP 21.5bn. In May, borrowing eased to GBP 24.3bn, however this was still the second highest May borrowing since records began. Last month's report showed that government receipts increased compared to the previous year, registering at GBP 56.9bn, which is GBP 7.5bn more than a year ago. At the same time, central government bodies spent GBP 10.9bn less on a day-to-day basis at GBP 81.8bn. This trend is likely to persist as the economy continues to recover and coronavirus support measures by the government are gradually running out, resulting in less government spending.

Source: Office for National Statistics

The events calendar remains quiet again with speeches scheduled for the day.

MNI London Bureau | +44 203-865-3814 |
MNI London Bureau | +44 203-865-3814 |

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