UK Finance Minister Jeremy Hunt is presenting the Autumn Budget to parliament.

Key takeaways

"Our plan will tackle the cost of living crisis, rebuild economy."

"We will take difficult decisions to tackle inflation."

"Bank of England (BOE) has done an outstanding job, has my whole-hearted support."

"We will not change BOE remit."

"Unfunded tax cuts are as risky as unfunded spending."

Market reaction

The Pound Sterling stays on the back foot as Hunt presents the budget. As of writing, GBPUSD was trading at 1.1845, where it was down 0.6% on a daily basis.