UK’s Kwarteng says he is focused on growth, not market By Reuters
Economy 8 minutes ago (Sep 25, 2022 10:00)
© Reuters. FILE PHOTO: New British Chancellor of the Exchequer Kwasi Kwarteng walks outside Number 10 Downing Street, in London, Britain September 6, 2022. REUTERS/Toby Melville
LONDON (Reuters) – British finance minister Kwasi Kwarteng said on Sunday that he was focused on boosting longer-term growth, not on short-term market moves, when challenged over the sharp fall in sterling and bond prices following his first fiscal statement.
“As chancellor of the exchequer, I don’t comment on market movements. What I am focused on is growing the economy and making sure that Britain is an attractive place to invest,” he told the BBC.
Sterling fell by more than 3% to its lowest since 1985 against the U.S. dollar on Friday, and weakened against the euro and Japanese yen as well, while government bonds recorded their sharpest daily sell-off in decades.
UK’s Kwarteng says he is focused on growth, not market
By Davide Barbuscia and Dhara Ranasinghe NEW YORK/LONDON (Reuters) – Global investors are preparing for more market mayhem after a monumental week that whipsawed asset prices…
(This Sept 23 story corrects to remove paragraph 7 to take out quote, no other changes to text) By Nell Mackenzie LONDON (Reuters) – Hedge funds around the world fled positions in…
By Andy Bruce and Lindsay Dunsmuir LONDON (Reuters) – Britain’s new economic agenda represents the biggest gamble for growth in a major Western democracy in at least 40 years, for…
© 2007-2022 Fusion Media Limited. All Rights Reserved.
Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.