Britain's Budget Forecaster Prepares Key Economic Update

Britain's budget watchdog will release a new economic and public finance forecast on March 3. This announcement, made by the government, states that the update will not assess progress towards meeting Finance Minister Rachel Reeves' fiscal targets. The forecast is being prepared at the request of the Office for Budget Responsibility.

The UK government's budget watchdog is set to unveil its latest economic and public finance forecast on March 3, according to an official statement.

Despite being a significant economic forecast, the update will notably omit an assessment of the country's progress in reaching Finance Minister Rachel Reeves' fiscal targets.

This move follows Finance Minister Rachel Reeves' initiation, requesting the Office for Budget Responsibility to prepare an interim economic view, as confirmed by the Treasury on Monday.

(With inputs from agencies.)