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UK market News

03 Oct 2022

Liz Truss takes u-turn, scraps tax cut for wealthy that sparked market turmoil

Liz Truss took office less than a month ago, promising to radically reshape Britain's economy to end years of sluggish growth. But the government's September 23 announcement of a stimulus package that includes 45 billion pounds (USD 50 billion) in tax cuts, to be paid for by government borrowing, sent the pound tumbling to a record low against the dollar.

Bank of England

13 Jun 2014

British rate hike hint boosts sterling, Iraq unrest drives up oil

Bank of England Governor Mark Carney said that British interest rates could rise sooner than financial markets expect.

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