Treasury officials are presenting the Prime Minister and Chancellor with options for a partial reversal of the fiscal statement
The Bank of England has appeared to be at loggerheads with Liz Truss over the Government’s claim that markets turmoil is caused by worldwide instability.“a global phenomenon” rather than being driven primarily by the response to Kwasi Kwarteng’s fiscal statement.
But Huw Pill, the Bank’s chief economist, insisted there were “UK-specific” factors explaining why investors now have less confidence in the ability of the Government to service its debts. He said in a speech: “Over the course of the past week, there has been a significant repricing of financial assets. Part of that repricing reflects
. Part of it reflects the ongoing normalisation of macroeconomic policy after the pandemic-induced episode of exceptional ease. But there is undoubtedly a UK-specific component.”“I would point out that interest rates are going up around the world. The Federal Reserve has raised interest rates. This is a global phenomenon.”
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Liz Truss interviews: Five key exchanges with prime ministerThe PM's reaction was keenly awaited after a dramatic week which saw a mini-budget and the pound slump.
Read more »
For women in Italy, electing our first female prime minister doesn't feel like a victoryFor women in Italy, electing our first female prime minister doesn't feel like a victory ✍️ rebeccaahughes_ for ipaperviews
Read more »
Meet Liz Trussell: The Woman Everyone On Twitter Thinks Is The Prime MinisterEven the Royal Family and Sweden’s prime minister have mistakenly messaged her. Read more on Grazia.
Read more »
Make Me Prime Minister: Jackie Weaver and Goldie's son among candidates in political reality seriesShropshire internet sensation Jackie Weaver and the son of Wolverhampton-raised DJ Goldie will make their case to be Prime Minister in a reality television series which launches tonight.
Read more »
Sarah Julian -Sarah Julian quizzes the prime minister on energy, mortgages and the economy.
Read more »