U.K. Budget is Likely To Be Key Focus For Sterling Rather Than BOE -- Market Talk

Dow Jones
2025/03/17

1344 GMT - Sterling's performance this week is more likely to be driven by headlines regarding the upcoming U.K. budget as opposed to the Bank of England's policy decision Thursday, Monex Europe analysts say in a note. Weekend reports suggest U.K. Treasury chief Rachel Reeves could drop plans to freeze disability benefits after receiving a backlash from Labour MPs. This is "in line with our base case for Reeves to underwhelm," the analysts say. That could weigh on sterling as the week progresses with the state of the U.K.'s public finances at the front of mind for traders, they say. Reeves will unveil her spending plans on March 26. (renae.dyer@wsj.com)

 

(END) Dow Jones Newswires

March 17, 2025 09:44 ET (13:44 GMT)

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