Author of the article:
Reuters
LONDON — British finance minister Kwasi Kwarteng said on Sunday that he was focused on boosting longer-term growth, not on short-term market moves, when challenged over the sharp fall in sterling and bond prices following his first fiscal statement.
“As chancellor of the exchequer, I don’t comment on market movements. What I am focused on is growing the economy and making sure that Britain is an attractive place to invest,” he told the BBC.
Sign up to receive the daily top stories from the National Post, a division of Postmedia Network Inc.
Thanks for signing up!
A welcome email is on its way. If you don't see it, please check your junk folder.
The next issue of NP Posted will soon be in your inbox.
Sterling fell by more than 3% to its lowest since 1985 against the U.S. dollar on Friday, and weakened against the euro and Japanese yen as well, while government bonds recorded their sharpest daily sell-off in decades. (Reporting by Alistair Smout, writing by David Milliken)