Thread: GBP Public Sector Net Borrow

The new government, led by Cameron, put spending cuts on the top of its agenda. Net lending indeed fell to only 2 billion pounds two months ago, but jumped back to the regular levels – 15.3 billion last month. A small squeeze to 14.2 billion is expected, and will probably help the pound. I remain bearish for this currency, as the important fundamentals released in the past week didn’t shine on the pound.

This is not, let me start by saying that the budget that can be digested in five minutes. Perhaps it is a nominal budget of Emergency, but is exceptionally large number of measures, policies, tone, figures and analysis.What intrigued me, though was the lack of mention of the good old British pounds.