UK Chancellor Says Economy Has Proven IMF Wrong

George Osborne will on Friday round on detractors who said Britain’s economy could not grow amid austerity and set out a vision for strong growth with healthy public finances.
Attending the spring meetings of the International Monetary Fund, the chancellor will round on the fund and other critics who he will say “have been proved wrong” by Britain’s strong recovery over the past year.

Mr Osborne’s speech signals a shift from his cautious approach regarding the recovery to one that seeks to gain political advantage from the surprising strength of the upswing as the UK’s general election approaches.
The chancellor is gambling that voters will reward the Conservatives for correctly predicting a recovery would start rather than using the better economic news as an excuse to vote for a slower path of deficit reduction offered by Labour and the Liberal Democrats.

via CNBC

This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.

Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza