Public Sector Net Borrowing released at good pace

Tuesday, 21 June 2011 12:03

U.K Public Sector Net Borrowing value came out a few minutes ago.  The release was better than economists expected.  15.2 billion pounds is the amount of the Net Borrowing for May, while investors were expecting a release of 16.1 billion pounds.  April's Public Sector Net Borrowing was released ay 7.7 billion pounds.

Before the above release, MPC Member Paul Fisher spoke about some of the difficulties concerning the setting of the monetary policy over the past few years.  Increased rates of the Consumer Price Index have caused VAT to rise, global commodity prices to shoot up and the fall of the British Pound since late 2007. 

Sterling is trading currently at 0.8857 against the Euro, decreasing the price from 0.8870.