Beginners

Mitrade Insights is dedicated to providing investors with rich, timely and most valuable financial information to help investors grasp the market situation and find timely trading opportunities.

2021

Best News & Analysis Provider

FxDailyInfo

2022

Best Forex Educational Resources Global

International Business Magazine

Insights

News

Economic Indicator

UK's Reeves: There will be no return to austerity

Source Fxstreet

While presenting the Autumn Budget on Wednesday, UK Finance Minister Rachel Reeves said that there will be no return to austerity and added that they will maintain investment in the economy and health services, per Reuters.

Key takeaways

"Borrowing will fall as a share of GDP in every forecast year."

"OBR has cut forecasts for productivity by 0.3 percentage points to 1% by end of forecast."

"Will introduce three-year stamp duty relief on new IPOs in Britain."

"From April 2027, will require 8,000 Pounds of 20,000 pound ISA limit for under-65s to not be invested in cash."

"OBR forecasts net cash requirement to increase by 4.2 billion Sterling next year to 133.3 billion Sterling."

Market reaction

GBP/USD gains traction after dipping below 1.3150 with the initial reaction to the Office for Budget Responsibility's (OBR) projections and was last seen trading modestly higher on the day at 1.3180.

Disclaimer: For information purposes only. Past performance is not indicative of future results.

Recommended Articles

Bitcoin Breaks Below $92,000 as Traders Debate Whether 4-Year Cycle Pattern Is Driving Sell-Off Bitcoin (BTC-USD) extended its losses on Monday, slipping below the $92,000 mark and pushing its decline from October’s all-time high to more than 26%. The ongoing downturn has reignited a key debate among traders: Is this a short-term correction, or the start of a prolonged bear market driven by Bitcoin’s historical four-year cycle?

Author Mitrade

Nov 18, Tue

Bitcoin (BTC-USD) extended its losses on Monday, slipping below the $92,000 mark and pushing its decline from October’s all-time high to more than 26%. The ongoing downturn has reignited a key debate among traders: Is this a short-term correction, or the start of a prolonged bear market driven by Bitcoin’s historical four-year cycle?

US Dollar's Decline Predicted in 2026: Morgan Stanley's Outlook on Currency Volatility Morgan Stanley forecasts a 5% drop in the dollar by mid-2026, attributed to continued Fed rate cuts. A recovery may follow as growth improves and funding currency dynamics shift favorably toward the euro and Swiss franc.

Author Mitrade

Yesterday 01: 30

Morgan Stanley forecasts a 5% drop in the dollar by mid-2026, attributed to continued Fed rate cuts. A recovery may follow as growth improves and funding currency dynamics shift favorably toward the euro and Swiss franc.

Nvidia Shares Slip as Google's AI Chips Gain Ground with Meta Deal Talks Nvidia shares declined Tuesday following a report that Meta Platforms is in advanced talks to spend billions on Google's tensor processing units (TPUs), signaling the search giant's growing momentum in the competitive AI accelerator market.

Author Mitrade

Yesterday 06: 07

Nvidia shares declined Tuesday following a report that Meta Platforms is in advanced talks to spend billions on Google's tensor processing units (TPUs), signaling the search giant's growing momentum in the competitive AI accelerator market.

Rising Inflation Challenges Reserve Bank's Rate Cut Plans in Australia Australian CPI inflation surged to 3.8% year-on-year in October, exceeding expectations and complicating the Reserve Bank's strategy for interest rate reductions. Electricity prices significantly contributed to this increase, raising concerns about ongoing inflation pressures.

Author Mitrade

12 hours ago

Australian CPI inflation surged to 3.8% year-on-year in October, exceeding expectations and complicating the Reserve Bank's strategy for interest rate reductions. Electricity prices significantly contributed to this increase, raising concerns about ongoing inflation pressures.

Tesla's Sales Slump Deepens as Musk Focuses on Robots and Pay Package While Elon Musk has been preoccupied with Tesla's robotics division and securing his landmark $1 trillion compensation package, the automaker's core business—selling vehicles—faces a worsening outlook.

Author Mitrade

6 hours ago

While Elon Musk has been preoccupied with Tesla's robotics division and securing his landmark $1 trillion compensation package, the automaker's core business—selling vehicles—faces a worsening outlook.

Popular Symbols