Wednesday brought Public Sector Net Borrowing figures from the UK.Public sector net borrowing (excluding public sector banks) decreased by £0.1 billion to £16.1 billion in the current financial year-to-date (April 2017 to May 2017), compared with the same period in 2016; this is the lowest year-to-date net borrowing since 2008. The Office for Budget Responsibility (OBR) forecast that public sector net borrowing (excluding public sector banks) will be £58.3 billion during the financial year ending March 2018.
With no data releases from the UK in the rest of the week, focus remained on Brexit negotiations.European leaders have criticised the UK's offer to EU nationals after Brexit - with one senior figure claiming it could "worsen the situation" for them. European Council President Donald Tusk said the plan was "below expectations" while German Chancellor Angela Merkel said there had been "no breakthrough". Theresa May conceded there were differences between the two sides. But the prime minister said those who had "made their lives and homes" in the UK would have their rights guaranteed. She also suggested that while rights would be enforced by British courts, they could also be enshrined in international law if the agreement was included in the final treaty of withdrawal.
This week markets will be looking at:
Net Lending to Individuals (Thursday 10:30)
Current Account (Friday 10:30)
Final GDP (Friday 10:30)
