U.K. borrows more than expected in October

Note: This section contains information in English only.
Source: CNBC
© scanpix/reuters
The U.K. borrowed more than expected last month, causing challenges to finance minister George Osborne, who pledged to drag down the deficit and avert the economy from potential recession. He set a goal of declining the full-year public sector net borrowing to 120 billion pounds.
According to the Office for National Statistics the public sector net borrowing surged 5.937 billion pounds from last year's October to 8.604 billion pounds this month, surpassing analysts' forecast of 6 billion pounds. The investors' appetite has fallen on that, halting support for economic growth. Further monetary stimulus from BOE is not expected in the nearest future, as minutes of the Monetary Policy Meeting show 8 to 1 votes against the stimulus.
"The economy is healing, but it still faces many challenges. These numbers illustrate that, but also show the government's plans to bring spending under control are on track for the year," finance ministry spokesman said.

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