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(EMAILWIRE.COM, October 28, 2011 ) London, UK -- The UK governments approach to reducing the net borrowing position of the UK has reduced to £14.4bn in September. This is a significant reduction on previous years borrowing, down by £7.5bn on the previous years figures.
This is one of the first suggestions that the UK government is on track to achieve the deficit targets which have been set to ensure that the country balances the books, and protects its AAA rating.
Many independent commentators have been skeptical that the UK governments proposals to reduce the national deficit will achieve any firm any firm results. Therefore this is a good first indication, that they may have a positive impact.
The currency markets have responded favorably, with cable (UK Sterling vs US Dollar) achieving a high of 1.60. This is a threshold that has not been tested for some time, and may show some resurgence in terms of the UK economy, and general economic outlook.
In other news UK stocks have continued to climb achieving an 11 week high towards the end of last week.
This is part of daily currency news and updates put together by www.themoneyvine.co.uk, who specialize in foreign exchange, currency transfers, online trading and a whole lot more.
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Source: EmailWire.com
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