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MNI UK Budget Preview: Is this just the beginning?

The Budget has potential to drive fixed income and FX markets, will give more clarity on issuance and political outlook.
HomepagePolitical RiskCEEMEAUKGlobalPolitical RiskStoryGlobal IssuanceGlobal Issuance - UKMarketsRegion
MNI (LONDON)
  • Our overall expectation ahead of the Budget is that the impact on MPC policy will likely be more subdued than the market currently fears, given that we expect infrastructure spending to be ramped up more gradually. 
  • We look at he changes to fiscal rules and what they mean as well as the expected measures that will be announced.
  • Furthermore we look at the implications for the financing situation and the gilt remit and potential market implications.
  • On the political risk side, this will be the first major test of Labour's economic stance. We look at the wider political implications of the Budget.

For the full document see the PDF: UK_Budget_Preview_2024_10.pdf

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MNI (LONDON)
  • Our overall expectation ahead of the Budget is that the impact on MPC policy will likely be more subdued than the market currently fears, given that we expect infrastructure spending to be ramped up more gradually. 
  • We look at he changes to fiscal rules and what they mean as well as the expected measures that will be announced.
  • Furthermore we look at the implications for the financing situation and the gilt remit and potential market implications.
  • On the political risk side, this will be the first major test of Labour's economic stance. We look at the wider political implications of the Budget.

For the full document see the PDF: UK_Budget_Preview_2024_10.pdf