UK's Sunak: Inflation, not tax cuts, are priority

Dhwani Mehta FXStreet

British former finance minister and Conservative Party’s leadership candidate Rishi Sunak said on Thursday, “I think our no.1 economic priority is to tackle inflation.”

Additional quotes

I will get taxes down but I will do responsibly.

We will do tax cuts in a measured way.

Yes, I will keep Rwanda deportation plan.

We are going to make sure that the Rwanda plan works.

Market reaction

GBP/USD was last seen trading down 0.35% on the day at 1.1845, undermined by a broad strong US dollar on aggressive Fed tightening expectations.

Author

Dhwani Mehta

FXStreet

Residing in Mumbai (India), Dhwani is a Senior Analyst and Manager of the Asian session at FXStreet. She has over 10 years of experience in analyzing and covering the global financial markets, with specialization in Forex and commodities markets.

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