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UK public finances: Expect another narrowing in the deficit - HSBC

HSBC Analysts offer their thoughts on today’s UK public finances data due to be reported at 0930 GMT.

Key Quotes:

"After a wobble at the start of the year, public borrowing has fallen more sharply than expected of late.

Indeed, last month's deficit stood at GBP4.9bn, which represents the lowest September borrowing print for a decade.

For October, we expect another year-on-year narrowing in the deficit; our forecast is for a PSNBx figure of GBP7.0bn, GBP0.5bn lower than for October last year.

In the face of political pressure and the prospect of a growth forecast downgrade from the Office for Budget Responsibility, these recent numbers offer some respite for the Chancellor as he prepares for the 22 November Budget.”

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