Truss handed lifeline as GBP recovers ahead of key meeting with OBR

Redwood: Not in Government power to control pound

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Liz Truss and Kwasi Kwarteng are set to meet the Office for Budget Responsibility (OBR) Chair Richard Hughes on Friday to discuss the economic outlet. Sterling appeared to recover after a worrying start to the week as the pound dropped to an all-time low against the US dollar. The Chancellor has been slammed for asking the OBR to provide an assessment of the tax changes and cuts he announced in the mini-budget last week.

City minister Andrew Griffith said: “We all want the forecasts to be as quick as they (OBR) can but also .. you also want them to have the right level of detail.”

The OBR said it would provide the first draft of its outlook on October 7.

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KEY EVENTS

Truss and Kwarteng to meet with OBR

Liz Truss and Kwasi Kwarteng are set to meet the Office for Budget Responsibility (OBR) Chair Richard Hughes to discuss the economic outlet.

The Chancellor has been slammed for asking the OBR to provide an assessment of the tax changes and cuts he announced in the mini budget last week.

City minister Andrew Griffith said: “We all want the forecasts to be as quickly as they (OBR) can but also .. you also want them to have the right level of detail.”

The OBR said it would provide the first draft of its outlook on October 7.

Good morning

Good morning I’m Francesca Edwards, I’ll be bringing you all the latest developments on the pound. Please feel free to get in touch with me as I work if you have a story or tips to share! Your thoughts are always welcome.

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