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UK's Kwarteng says he is focused on growth, not market

09/25/2022 | 04:56am EST
FILE PHOTO: New British Health Chancellor of the Exchequer Kwasi Kwarteng walks outside Number 10 Downing Street in London

LONDON (Reuters) - 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.

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)


ę Reuters 2022
Stocks mentioned in the article
ChangeLast1st jan.
AUSTRALIAN DOLLAR / EURO (AUD/EUR) 0.37% 0.64513 Delayed Quote.1.35%
BRITISH POUND / EURO (GBP/EUR) 0.05% 1.15656 Delayed Quote.-2.28%
CANADIAN DOLLAR / EURO (CAD/EUR) 0.05% 0.717015 Delayed Quote.3.31%
INDIAN RUPEE / EURO (INR/EUR) -0.28% 0.011806 Delayed Quote.-0.18%
US DOLLAR / EURO (USD/EUR) -0.35% 0.963317 Delayed Quote.9.67%
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