Economic Essentials: UK Borrowing down in October

  • The UK's public sector borrowing was £7.706 billion in October, down 2.4 per cent year on year. 
  • However public sector borrowing in the UK between April and October 2014, with £64.1 billion borrowed, was up £3.7 billion versus the same period last year. 
  • Chinese Interest Rates have been cut for the first time since July 2012, the deposit rate lowered to 2.75 per cent (down 0.25) and the lending rate lowered to 5.6 per cent (down 0.4). 
  • Stocks higher on the news from China and on comments from ECB President Mario Draghi about needing to increase inflation in the euro zone.