U.K.'s Hammond Cuts Borrowing as GDP Forecast Grows

The video discusses the UK government's economic forecast, highlighting a significant budget cut in planned borrowing due to revised GDP growth expectations. The 2017 growth forecast was raised to 2% from 1.4%, countering initial Brexit concerns. Future growth projections for 2018-2020 show slight reductions, impacting market reactions with a firmer pound. The Office of Budget Responsibility's forecasts align with the Bank of England's, but the speed of economic impact remains uncertain. The video concludes with a discussion on current economic data trends and potential future changes.

What was the GDP growth forecast raised to for 2017?

How did the FX market react to the growth forecast?

What was the budget deficit expected to do according to the text?

What is the significance of the Office of Budget Responsibility mentioned in the text?

What was the consensus regarding the economy after the Brexit vote?