UK PM Boris Johnson on Thursday said that the UK faces a cost of living crunch and the government has to help people. The package to help with energy costs is necessary and huge, he added, saying that hopefully inflationary pressures will start tpo subside once the world economy regains momentum. When asked about the planned national insurance rise, Johnson said we have to put in the money to fix the health service.

Market Reaction

There has been no reaction to the latest comments from the PM, with focus much more on the BoE.