Title: Pound Sterling Suffers Biggest Drop in 18 Months Amid Reeves’ Tax-and-Spend Storm
Post by: Bitcoin on Nov 01, 2024, 04:53 am
Post by: Bitcoin on Nov 01, 2024, 04:53 am
Pound Sterling Suffers Biggest Drop in 18 Months Amid Reeves' Tax-and-Spend Storm
Following the latest budget reveal, the pound sterling has taken a sharp tumble, fueled by mounting worries about the U.K.’s fiscal outlook. Chancellor Rachel Reeves' decision to pump £70 billion into government spending--funded through additional borrowing--has stirred up significant unease among investors. They're concerned this move could lead to higher inflation and escalating interest rates. […]
Source: Pound Sterling Suffers Biggest Drop in 18 Months Amid Reeves' Tax-and-Spend Storm (https://news.bitcoin.com/pound-sterling-suffers-biggest-drop-in-18-months-amid-reeves-tax-and-spend-storm/)
Following the latest budget reveal, the pound sterling has taken a sharp tumble, fueled by mounting worries about the U.K.’s fiscal outlook. Chancellor Rachel Reeves' decision to pump £70 billion into government spending--funded through additional borrowing--has stirred up significant unease among investors. They're concerned this move could lead to higher inflation and escalating interest rates. […]Source: Pound Sterling Suffers Biggest Drop in 18 Months Amid Reeves' Tax-and-Spend Storm (https://news.bitcoin.com/pound-sterling-suffers-biggest-drop-in-18-months-amid-reeves-tax-and-spend-storm/)