UK OBR: Public sector net borrowing in 2019/20 likely to be revised up significantly

The UK’s Office for Budget Responsibility (OBR) on Thursday said that the public sector net borrowing in March and therefore in 2019/2020 as a whole was likely to be revised up, perhaps significantly, because of the coronavirus outbreak.

Market reaction

Market participants largely ignored this announcement. As of writing, the UK’s FTSE 100 Index was trading at fresh daily highs near 5,790 points, rising 0.37% on a daily basis. Meanwhile, the GBP/USD pair is up 0.1% on the day at 1.2345.