UK PM Johnson: In the months ahead, will use fiscal firepower on cost of living
|UK PM Boris Johnson on Friday said that in the months ahead, the UK is going to have to use its fiscal firepower to mitigate the cost-of-living squeeze, reported Reuters. "In the months ahead we are going to have to do what we did before, we're going to use our fiscal firepower that we built up, that we have, to help," said Johnson during a speech in Wales. "We're going to put our arms around the British people again as we did during COVID," he added.
Data this week showed the headline rate of Consumer Price Inflation (CPI) hit a new multi-decade high at 9.0% YoY. The Bank of England expects the annual headline CPI rate to hit 10% by the end of the year.
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.