The UK budget deficit exceeded expectations and marked the second biggest shortfall on record for the month of August, driven by a surge in interest payments, data published by the Office for National Statistics showed on Tuesday.
Public sector net borrowing, excluding public sector banks, totaled GBP 20.5 billion in August 2021. This was the second-highest August borrowing since monthly records began in 1993 and far exceeded the economists' forecast of GBP 15.6 billion.
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June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.