UK's Sunak: Need to keep an eye on public finances as economy recovers
|British Finance Minister Rishi Sunak said on Thursday that unemployment is expected to continue to rise in the UK and noted that they are acting before a "tricky, difficult winter economy," as reported by Reuters.
Additional takeaways
"We always stand ready to do what's necessary."
"We are ready to do more if needed."
"We cannot continue to provide the same support as we did at the beginning, it's not sustainable."
"We need to be mindful of the cost of job support."
"As economy recovers, we need to keep an eye on public finances."
"I will need to make difficult decisions on public finances in the future."
"Priority needs to be on recovery for now."
Market reaction
The GBP/USD pair showed little to no reaction to these remarks and was last seen gaining 0.08% on the day at 1.2732.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.