According to ChainCatcher, UK Chancellor of the Exchequer Reeves is exploring reforms to the budgetary system to avoid sudden fiscal patch-up plans. She is considering the IMF's recommendations to reduce the pressure of frequent adjustments to fiscal policy.
Reeves has pledged to hold only one fiscal announcement per year. The International Monetary Fund suggests that the UK should not take corrective measures when fiscal rules deviate slightly and should assess compliance with fiscal rules annually.
City of London officials say that the reforms being considered by the Treasury will be welcomed by the bond market, as frequent policy adjustments are not feasible given the current instability in the global economy.