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Monthly public finance data due at 7:00BST

UK DATA
  • The monthly public finance data will be published at 7:00BST. We note, however, that there is unlikely to be any market moving in this report because the OBR has already confirmed that it will not be included in next week's updated EFO forecasts that will be presented along with the Budget. Instead, last month's release will have been the last to be included.
  • Our data team notes that government interest payments are likely to have declined significantly from the GBP6.3 billion disbursed in August. RPI decreased by 0.1 percentage point between June and July, the reference period for September payments, compared to a 0.6 percent point jump between May and June, the reference period for August. Borrowing will, however, be inflated by a GBP800 million divorce instalment payment to the European Union, following similar-sized outflows in July and August. A new EU invoice for the fourth quarter was due for issue in September.

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