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23 Apr 2013
Forex Flash: UK Public finance data triggers more debt issuance - Nomura
FXstreet.com (Barcelona) - Nomura economist Phillip Rush notes that the recent UK Public Finance data has triggered more debt issuance by the Government.
He notes that borrowing in March was close to expectations at £15.1bn, but it was higher after revisions. He notes that “In cash terms, that an unprecedented rise in net departmental outlays caused the CGNCR to be much higher than we expected and trigger an upward revision to the financing remit: Gilt issuance +£4.7bn to £155.7bn; T-Bills +£2bn.”
He notes that borrowing in March was close to expectations at £15.1bn, but it was higher after revisions. He notes that “In cash terms, that an unprecedented rise in net departmental outlays caused the CGNCR to be much higher than we expected and trigger an upward revision to the financing remit: Gilt issuance +£4.7bn to £155.7bn; T-Bills +£2bn.”