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14th Oct 2021 18:00U.K., Economic Monitor

  • The OBR likely will revise up its forecast for debt interest payments in 2022/23 by nearly 1% of GDP.
  • Interest payments will be boosted by the outlook for high inflation and markets' expectations for rate hikes.
  • The MPC's plans to shrink the APF will mean more debt is financed at prevailing gilt rates, not Bank Rate.

asset bank bank rate bonds borrowing budget cash chancellor debt election energy energy prices forecast funds gilt inflation interest payments interest rate it loan markets mpc obr outlook policy prices public sector rpi rpi inflation sector spending stock tax yields

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