Public borrowing hits record level

28 July, 2011


After an amazing run in the last week, sterling has fallen back this morning as public borrowing has hit a new all-time record of 61% of GDP. This is the worst level since records began in 1974.

Despite the bad news, the Pound is only falling back slowly – however with the Bank of England’s deputy governer speaking tonight there could be more bad news in the pipeline. If you want to take advantage of the recent improvements in commercial exchange rates, consider securing your deal today.