“It is not very unusual for UK debt to exceed 100% of GDP in the 19th and 20th centuries, servicing costs are now much lower,” he said on Monday. Andy Haldane, Chief Economist at the Bank of England (BoE). , as reported by Reuters.
“Growth, rather than paying down debt, has been the most successful way to reduce the UK’s debt-to-GDP ratio,” added Haldane. “If tax increases are needed, pollution taxes must be considered.”
Market reaction
The pair GBP/USD It did not show an immediate reaction to these comments and was last seen posting small daily gains at 1.3168.
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Credits: Forex Street
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