Pound extends losses as Chancellor Reeves reveals budget ...Middle East

This budget raises taxes by GBP40 billionWe will maintain BOE's 2% inflation targetOBR says budget will boost long term growthWill balance budget in third yearConfirms earlier reported rise in minimum wageWill 'catalyze' 70 billion pounds through new National Wealth FundLooking at the GDP forecasts changes from March:2024: Up from 0.8% to 1.1%2025: Up from 1.9% to 2.0%2026: Down from 2.0% to 1.8%2027: Down from 1.8% to 1.5%2028: Down from 1.7% to 1.5%2029: New forecast of 1.6%For CPI changes from March:2024: Up from 2.2% to 2.5%2025: Up from 1.5% to 2.6%2026: Up from 1.6% to 2.3%2027: Up from 1.9% to 2.1%2028: Up from 2.0% to 2.1%2029: New forecast of 2.0%The CPI forecasts are notably higher

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