UK Chancellor Rishi Sunak is set to unveil spending review for the financial year 2021-22 on Wednesday.
Due to uncertainty caused by the coronavirus pandemic, Sunak has reduced the review period to one year from three years. The announcement is due at 7.00 am ET.
The chancellor is also slated to provide the forecasts for the economy and public finances prepared by the Office for Budget Responsibility. Other major economic data due for the day are as follows:
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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.