UK’s Hunt: Inevitable GDP will be subdued as interest rates work to bring down inflation

Market news

13 December 2023

UK’s Hunt: Inevitable GDP will be subdued as interest rates work to bring down inflation

UK Finance Minister Jeremy Hunt said on Wednesday, “it is inevitable GDP will be subdued while interest rates are doing their job to bring down inflation.”

“The big reductions in business taxation mean the economy is now well placed to start growing again,” he added.

Also read: UK GDP contracts 0.3% MoM in October vs. -0.1% expected

Market reaction

At the time of writing, GBP/USD is losing 0.27% on a daily basis to trade at 1.2525.

EUR/USD remains depressed below 1.0800, awaits Fed ahead of ECB on Thursday

FX option expiries for Dec 13 NY cut

Market Focus

Material posted here is solely for information purposes and reliance on this may lead to losses. Past performances are not a reliable indicator of future results. Please read our full disclaimer

Open Demo Account & Personal Page

Personal area

support@teletradepartners.com

Risk Warning: Trading in the financial markets (including trading on margin) provides a wide range of opportunities and enables investors ready to take risks to make high profits, but it carries a potentially high level of risk of loss. Therefore, prior to trading you should take into careful consideration whether such operations are suitable for you in terms of your level of knowledge and financial situation.