UK market meltdown? Nothing to see here, minister says

The pound slumped 3.6% on Friday below $1.09, a new 37-year low against the dollar, while gilts suffered their worst day in decades as the market digested finance minister"Let's be clear, the interest rates payable on government gilts is about the same in the United Kingdom now today as it is in the United States," Chris Philp, Britain's deputy finance minister, told Sky News when asked about the market moves.

The pound has fallen more than 11% against the dollar over the last three months, making it the worst-performing major currency recently. It fell to its lowest since January 2021 against the euro on Friday.and cancelled a planned rise in corporate taxes - all on top of a hugely expensive plan to subsidise energy bills for households and businesses.

The Resolution Foundation think tank, which focuses on living standards, said the plans pointed to an extra 400 billion pounds of borrowing over the next five years.Register now for FREE unlimited access to Reuters.com

all money presses and the entire apparatus arrested worldwide for the organized worldwide theft of money itself and of everything else, perhaps? ( the IntlCrimCourt) themoneylawsuit thelawsuitformyuniversalrights

short sell sterling is Right strategy,UK may be break up(divide) in future.

Nothing to see here, it’s all gone 🤣

Ready for reception

South Africa South Africa Latest News, South Africa South Africa Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

UK market meltdown? Nothing to see here, Treasury minister saysBritain's deputy finance minister on Saturday played down a historic collapse in the pound and government bonds in response to the country's new economic growth plan, which sent international investors heading for the exit. I think there was something you reported yesterday that was worth seeing. Hello darkness my old friend
Source: Reuters - 🏆 2. / 97 Read more »