How Will Hammond Navigate Strong U.K. Data and Brexit?
In all likelihood, the Office for Budget Responsibility’s Autumn Statement forecast will be a Chancellor’s worst nightmare -- a significant downgrade to growth, higher inflation and more money borrowed. But in many ways it won’t matter. Philip Hammond, only appointed Chancellor of the Exchequer in July, has an opportunity to define his own measure of success on the public finances in his mini-budget on Nov. 23. He is likely to make room to boost investment spending and help working families. However, the package will probably fall well short of a fiscal stimulus -- deficit reduction is set to remain at the heart of his strategy. HSBC Senior Economist Elizabeth Martins and Societe Generale Global Head of Economics Michala Marcussen discusses with Francine Lacqua on "Bloomberg Surveillance." (Source: Bloomberg)