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Reeves at risk of breaching spending rules she set just two months ago

Telegraph
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Two-thirds of the Chancellor’s 9.9bn borrowing buffer set in the October Budget wiped out.

Capital Economics estimates headroom has been cut to just 3.5bn based on current market pricing.

Bank of England warned employers were responding to increase in National Insurance contributions by raising prices.

Investors now expect Threadneedle Street to cut rates just twice in 2025 .

By contrast, the European Central Bank cut rates four times while the US Federal Reserve reduced rates three times.

Mr MacGorain said other central banks have been easing policy more quickly than the Bank of England .