UK public finances now more sensitive to rate moves: OBR’s Hughes

UK public finances now more sensitive to rate moves: OBR’s Hughes

UK public finances now more sensitive to rate moves: OBR's Hughes OBR board member Charlie Bean said there was no urgency to reduce Britain's budget deficit    LONDON- Britain's public finances have grown more sensitive to interest rate changes since the start of the coronavirus pandemic because of a rapid accumulation of government debt, the new head of the country's budget watchdog said on Wednesday."They are also more sensitive because the average maturity of our debt has been getting shorter," Office for Budget Responsibility chair Richard Hughes told a committee of lawmakers.OBR board member Charlie Bean said there was no urgency to reduce Britain's budget deficit, but that there should be action once the COVID emergency had passed.(Reporting by David Milliken and Andy Bruce) (([email protected]; +442075423484; Reuters Messaging: [email protected]))Zawya Coveragetravel