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Financial market worries over the UK budget appear to ease

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Worries about this week’s tax-raising U.K. budget within financial markets appear to have eased with the interest rates charged on British debt steadying and the pound rising against most other currencies.

Read full article: SAAACAM receives $50,000 donation to help fund renovations to Kress BuildingRead full article: City Council approves ordinance for major East-West Corridor project on South SideLooking to save on items for your home, road trip and wardrobe? We've got the latest Insider Deals to share!Wine down this season with 18 bottles for $79Britain's Chancellor of the Exchequer, Rachel Reeves, looks up as she holds up the traditional red ministerial box containing her budget...

El primer ministro britnico, Keir Starmer, y la ministra de Hacienda, Rachel Reeves, hablan con miembros del personal en una visita al Hospital Universitario de Coventry y Warwickshire, en Coventry, Inglaterra, el jueves 31 de octubre de 2024.

Some analysts voiced worries about the potential inflationary impact of the budget, which may prompt the Bank of England to cut interest rates more slowly than previously anticipated. Though the bank is widely expected to reduce its main interest rate next week by a further quarter-point to 4.75%, the markets have moved to price in fewer reductions next year in the wake of the budget.

On Friday, the yield, or interest rate, charged on the U.K.'s 10-year bonds held steady at 4.45%, following increases since Treasury chief Rachel Reeves presented the budget. The pound meanwhile was up 0.4% to $1.2951.

 

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Financial market worries over the UK budget appear to easeWorries about this week’s tax-raising U.K. budget within financial markets appear to have eased with the interest rates charged on British debt steadying and the pound rising against most other currencies.
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Financial market worries over the UK budget appear to easeWorries about this week’s tax-raising U.K. budget within financial markets appear to have eased with the interest rates charged on British debt steadying and the pound rising against most other currencies.
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