UK's OBR: UK debt to GDP ratio likely to exceed 100% soon

Eren Sengezer FXStreet

In a report published on Tuesday, the UK's Office for Budget Responsibility (OBR) noted that the UK's debt to GDP ratio could exceed 100% soon.

The OBR noted that the year-to-date borrowing is lower than they have determined in the central scenario and explained that this situation was reflecting the lack of loan write-offs in data as well as stronger tax receipts.

Market reaction

The UK's FTSE 100 Index edged lower on this report and was last seen gaining 0.47% on the day at 6,290 points.

Author

Eren Sengezer

FXStreet

As an economist at heart, Eren Sengezer specializes in the assessment of the short-term and long-term impacts of macroeconomic data, central bank policies and political developments on financial assets.

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