News Headline Summary

UK OBR says changes to handling of BoE QE payments means public sector net borrowing will be lower in the near term

- Net borrow is then likely to be higher in future years as the APF moves into deficit and the treasury has to cover this.

Update details:

- Earlier it was announced that the BoE and UK government agree to transfer excess cash from QE facility to treasury. UK treasury said GBP 11bln to be transferred by March 2013 and GBP 23.8bln to be transferred by March 2014.

Print 12:15, 09 Nov 2012 - Economic commentary - Source: Newswires