MNI: FED CHAIR JEROME POWELL SCHEDULED TO SPEAK JULY 2

MNI: BANXICO HOLDS INTERBANK RATE STEADY AT 11.00%

MNI BRIEF: Fed's Bowman Says Policy Appears To Be Restrictive

MNI BRIEF: CNB Cuts 2W Repo Rate By 50Bps To 4.75%

MNI China Daily Summary: Thursday, June 27

MNI BRIEF: China EU In Close Communication - MOFCOM

MNI: FED BALANCE SHEET TOTAL ASSETS -$21B TO $7.231T IN WEEK

US Treasury Auction Calendar

EZ/UK T-Bill Calendar: 1/3/6-Month UKTB Auction on Friday

RPT-MNI: Canada Sticks To Fiscal Anchors, Spends Chunk Of Windfall

MNI BRIEF: Poilievre Calls QE 'Scam' And Would Limit BOC Remit

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

Spending Review expected around 12:30GMT

UK

Chancellor Sunak will present the Spending Review (i.e. mini-budget) this afternoon after PMQs (roughly 12:30GMT).

  • The scope for this has been scaled back from a multiyear review to something that might leave a lot of the harder decisions on how to raise extra revenue to plug the gaps from the Covid-induced deficit until the March Budget. Extra money for the NHS is expected, a national infrastructure bank based in the North of England and possibly reforms to how pension contributions are taxed to make them less generous to higher rate taxpayers are among the measures expected to be announced today.
  • The Spending Review will contain the OBR's updated forecasts for the economy and with it updated expectations for issuance.
  • The DMO will release its new remit alongside the Spending Review and the agenda for the consultation for the investor/GEMMs meetings which will likely contain a broad overview of the gilts expected to be issued alongside a provisional calendar for January-March issuance.
  • The outcome of the RPI review will also be announced, something that will be watched particularly closely by the linker market.
Political Risk BulletFixed Income BulletsBulletMarketsPolitical RiskForeign Exchange Bullets

To read the full story

Close

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.