UK's Sunak: Cannot ignore problem of borrowing

Eren Sengezer FXStreet

British finance minister Rishi Sunak told ministers that they are borrowing on an extraordinary scale, British Prime Minister Boris Johnson's spokesman told reporters on Wednesday, per Reuters.

"As a conservative government, we know that we cannot ignore this problem of borrowing," Sunak added.

Market reaction

These comments don't seem to be having a significant impact on market sentiment. As of writing, the UK's FTSE 100 Index was up 0.92% on a daily basis at 6,674. Meanwhile, the GBP/USD pair is up 0.18% at 1.3978.

Author

Eren Sengezer

FXStreet

As an economist at heart, Eren Sengezer specializes in the assessment of the short-term and long-term impacts of macroeconomic data, central bank policies and political developments on financial assets.

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