Citing Bpaynews, the UK’s Office for Budget Responsibility (OBR) accidentally released its fiscal outlook ahead of Chancellor Rachel Reeves’ budget statement, triggering sharp swings in GBP and gilts. The OBR’s projections showed fiscal headroom expanding to around £22 billion, driven by tax increases and higher public spending. GBP/USD fluctuated between 1.3125 and 1.3200, while UK 10-year yields moved between 4.43% and 4.49%. The leak, attributed to a technical error, injected uncertainty into markets as traders reassessed growth, inflation, and gilt supply risks.
UK OBR Leaks Fiscal Outlook, Sending GBP and Gilts into Volatility
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