22-07-2025
UK Borrows Billions More Than Expected, Bessent Calls for Fed Review
UK government borrowing came in more than forecast in June, a setback for Chancellor of the Exchequer Rachel Reeves that will fan speculation over potential tax hikes to shore up the public finances. A surge in debt-interest payments sent the budget deficit to £20.7 billion ($27.9 billion), the Office for National Statistics said on Tuesday, £6.6 billion more than a year earlier and well above the £17.5 billion economists surveyed by Bloomberg expected. Elsewhere, Treasury Secretary Scott Bessent said in a social media post Monday that there should be a review of the decision to renovate parts of the Federal Reserve headquarters in Washington. Today's guests, Marina Zavolock, Morgan Stanley Chief European Equity Strategist, Jasmine Groschl, Allianz Senior Economist, Eivind Kallevik, Norsk Hydro CEO. (Source: Bloomberg)
