Latest jobless claims data saw the initial claims four-week average push closer to cycle lows. Conti...
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Reeves: Average growth over the forecast period is largely unchanged but the profile is different:
| GDP | Old | New |
| 2026 | 1.4 | 1.1 |
| 2027 | 1.5 | 1.6 |
| 2028 | 1.5 | 1.6 |
| 2029 | 1.5 | 1.5 |
| 2030 | 1.5 |
Delivering her Spring Forecast Statement, Chancellor of the Exchequer Rachel Reeves looks to place the statement in the context of the wider unstable geopolitical landscape. Reeves: "...a plan that is even more important in a world that in the last few days has become yet more uncertain. It is incumbent on me and on this government to chart a course through that uncertainty… …to secure our economy against shocks".
EUR 2-Year zero coupon swaps have registered the highest level seen since ’24, with the surge in energy prices on the back of the escalation of the conflict in the Middle East driving much of the move.
Fig. 1: EUR 2-Year Zero Coupon Swap (%)

Source: MNI - Market News/Bloomberg Finance L.P.