Bank of England Governor Andrew Bailey has confirmed that the UK budget deficit is on a declining trajectory. Recent data shows the general-government deficit falling from 6.0% of GDP in 2023-24 to 5.3% in 2025, with further declines projected. This statement underscores the government’s fiscal consolidation efforts and a stabilizing economic outlook. Markets are weighing this development for its implications on the Bank of England’s upcoming monetary policy decisions, particularly concerning interest rates. Market participants nonetheless remain cautious in a complex economic environment.
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