Chancellor Jeremy Hunt will come under special scrutiny when he delivers his statement to the House of Commons today. Although the autumn statement could restore confidence in the markets, the negative arguments for the GBP remain validreport Commerzbank economists.
Hunt’s room to address the impending recession with fiscal measures is very limited
“Hunt will have to try today mainly justify the advancement of confidence that Gilts and sterling traders have shown in him. And that means in turn: Hunt’s room to tackle the looming recession with fiscal measures is very limited.”
“A recession that cannot be cushioned by fiscal measures will be deeper. And that, in turn, is likely to make it even more difficult for the Bank of England to fight inflation at the same time.”
Source: Fx Street
I am Joshua Winder, a senior-level journalist and editor at World Stock Market. I specialize in covering news related to the stock market and economic trends. With more than 8 years of experience in this field, I have become an expert in financial reporting.
