As Thursday’s European trading session gets underway, focus will shift to the UK where Chancellor Hunt will have an opportunity to regain some market confidence as he delivers the Conservative government’s latest fiscal plans.
The fresh budget will be announced at 12.30 today and is expected to go some way towards filling the government’s c.£50 billion black hole in funding. After the previous budget delivered by Chancellor Kwarteng in September, it’s likely this new budget does not contain anything too controversial or surprising. As a result, market movement may be limited as Hunt steers a steady course.
Written by Viv Savani. 8:36am, November 17th 2022
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