Home›Forex›Central Banks›Rabobank points to resilient UK growth but warns fisca…

Rabobank points to resilient UK growth but warns fiscal constraints

The bank cites improved consumer confidence in recent UK data, but says high debt and weaker public borrowing leave fiscal policy constrained ahead of the October 28 budget.

Reported · Written up by our desk · Central Banks

Rabobank’s Senior FX Strategist Jane Foley said recent UK indicators, including Q2 GDP, real output per head, and the August composite purchasing managers’ index, point to resilient growth and improved consumer confidence.

Foley added that despite the firmer picture, fiscal policy remains constrained by high national debt, disappointing public borrowing figures, and looming tax decisions.

She flagged the October 28 budget as the key date for markets to watch, given those fiscal pressures.

FXStreet also noted ongoing currency market positioning, including commentary on GBP/USD and EUR/USD moves alongside broader investor caution heading into upcoming US data and the Jackson Hole Symposium.

Latest closeEUR/USD 1.157 ▲0.4%|GBP/USD 1.354 ▲0.3%

More like this

Sources