Daily Alert – Wednesday 13th May 2020: UK deficit forecast rises to GBP337B from GBP55B in March

Mark NugentDaily Alert, May 2020

Daily Alert – Wednesday 13th May 2020: UK deficit forecast rises to GBP337B from GBP55B in March

Unsurprisingly, but no less shockingly, the UK forecast for the budget deficit for the current financial year has risen to GBP337 billion, up from the March forecast of GBP55. The Bank of England Governor Andrew Bailey does not rule out negative interest rates. Negative interest rates are being spoken of in the US, and the Reserve Bank of New Zealand has asked the country’s financial institutions to prepare themselves to handle negative interest rates should they be needed.

Markets remain relatively calm and range-bound.

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