- Analytics
- News and Tools
- Market News
- GBP/USD: UK PM is sticking to her fiscal plan, not a good signal for sterling – Commerzbank
GBP/USD: UK PM is sticking to her fiscal plan, not a good signal for sterling – Commerzbank
Prime Minister Premier Liz Truss’ press conference on Friday was quite bizarre. Economists at Commerzbank believe that the newly appointed Prime Minister (PM) will not be able to calm markets.
New Chancellor adds strength to sterling, but it is not enough
“The British chancellor has been dismissed; his successor does not have a reputation for being similarly radical. That sounds like good news for sterling. But that is not enough.”
“Truss’ plan will not work out anyway if the market does not believe that it will work out. Hardly anyone believes in this type of ‘supply-side economics’ (another anachronism).”
“It makes little difference that a large share of the tax cuts she announced will be taken back. What Truss said on Friday sounded more like the plans being postponed rather than abandoned. And as a result, it is not suited to regain market trust in the long-term sustainability of British fiscal policy.”
© 2000-2024. All rights reserved.
This site is managed by Teletrade D.J. LLC 2351 LLC 2022 (Euro House, Richmond Hill Road, Kingstown, VC0100, St. Vincent and the Grenadines).
The information on this website is for informational purposes only and does not constitute any investment advice.
The company does not serve or provide services to customers who are residents of the US, Canada, Iran, The Democratic People's Republic of Korea, Yemen and FATF blacklisted countries.
Making transactions on financial markets with marginal financial instruments opens up wide possibilities and allows investors who are willing to take risks to earn high profits, carrying a potentially high risk of losses at the same time. Therefore you should responsibly approach the issue of choosing the appropriate investment strategy, taking the available resources into account, before starting trading.
Use of the information: full or partial use of materials from this website must always be referenced to TeleTrade as the source of information. Use of the materials on the Internet must be accompanied by a hyperlink to teletrade.org. Automatic import of materials and information from this website is prohibited.
Please contact our PR department if you have any questions or need assistance at pr@teletrade.global.
Bank transfers
