“New £15bn ($19bn) cost-of-living support package will have less than a percentage point impact on inflation“, according to the British finance minister, Rishi Sunakin an interview with Sky News on Friday.
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“My view is that it will have a minimal impact on inflation.”
When asked if it would have a one percentage point impact, he said, “Much, much less than that.”
Asked about a possible windfall tax on electricity generators, Sunak said: “What we want to do and are going to do urgently is to understand the scale of those benefits, and then decide on the appropriate next steps.”
market reaction
The pair GBP/USD is paring gains above 1.2600 as risk flows cool off a bit and the US dollar rallies. The pair is currently trading at 1.2614, up 0.17% on the day.
Source: Fx Street
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