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26 Oct 2022

UK’s Hunt: Medium-term fiscal plan being delayed to November 17

UK Chancellor Jeremy Hunt announced in a statement on Wednesday, the medium-term fiscal plan is being delayed to November 17.

Additional quotes

“The delay is the best way to make sure we take the right decisions.”

“I am willing to make choices that are politically embarrassing.”

“The fiscal plan needs to be based on the most accurate forecasts possible.”

“I have discussed the delay with Bank of England Governor Bailey, he understands our reasoning.”

“The fiscal plan will show debt is falling over the medium-term.”

“Medium-term fiscal plan is extremely important.”

“Economic stability and restoring confidence is our number one priority.”

Oct 26, 2022

GBP/USD to extend its race higher towards the 1.1820 mark – OCBC

GBP/USD extends its run higher. The break past 1.1540 opens up further gains towards 1.1820 levels, analysts at OCBC Bank report. Benefit of doubt “Fo

USD/CAD to move back to and probably below 1.30 next year – ING

The big event of the day is the Bank of Canada (BoC) Monetary Policy Announcement. In the view of economists at ING, the BoC should hike rates to 4%,