U.K.'s Hammond Cuts Borrowing as GDP Forecast Grows

The video discusses the UK government's economic forecast, highlighting a significant budget cut in planned borrowing due to revised GDP growth expectations. The 2017 growth forecast was raised to 2% from 1.4%, countering initial Brexit concerns. Future growth projections for 2018-2020 show slight reductions, impacting market reactions with a firmer pound. The Office of Budget Responsibility's forecasts align with the Bank of England's, but the speed of economic impact remains uncertain. The video concludes with a discussion on current economic data trends and potential future changes.

What was the revised GDP growth forecast for the UK in 2017?

• 1.6%

• 2%

• 2.1%

• 1.4%

How did the foreign exchange market react to the revised economic forecasts?

• The pound remained unchanged.

• The pound weakened significantly.

• The pound dropped to session lows.

• The pound strengthened slightly.

What is the expected growth rate for the UK economy in 2018 according to the forecasts?

• 1.9%

• 1.7%

• 2.1%

• 1.6%

Which organization is responsible for the economic forecasts discussed in the video?

• Bank of England

• Office of Budget Responsibility

• European Central Bank

• UK Treasury

What was the consensus expectation for the UK economy after the Brexit vote?

• The economy would grow rapidly.

• The economy would improve slightly.

• The economy would remain stable.

• The economy would roll over.