Good Monday, if you're dreading the work week ahead, at least take comfort in the fact that you're not Britain's Mr. Kwasi Kwarteng. Kwasi Kwarteng's latest big tax cut proposal appears to particularly benefit the country's highest income earners. This was the sharpest fall in the pound in about 40 years.
Good Monday, if you're dreading the work week ahead, at least take comfort in the fact that you're not Britain's Mr. Kwasi Kwarteng. Kwasi Kwarteng's latest big tax cut proposal appears to particularly benefit the country's highest income earners. It was the steepest fall in the pound in nearly 40 years.
Not a good outlook for the newly appointed Prime Minister, as his ultra-conservative policies aim to boost growth, make the UK more attractive to foreign investment and, in turn, make the UK more competitive on the international stage. isn't it. ah. Kwarteng now professes no interest in short-term market movements, and he positions himself as someone with a long-term vision and a willingness to make tough and unpopular decisions. Yes, but don't make the mistake. He will be under considerable pressure from now on. He wants to reassure the market that borrowing costs are rising as quickly as the pound has fallen.
British government bond yields have gone parabolic and the FTSE 100 index has fallen sharply, raising the possibility that the Bank of England will introduce further significant interest rate hikes. So. It's not exactly a dream start for the newcomer, who could very well be at the head of pound-dollar parity on an extensive eligibility list by the end of this month.
