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Chancellor-I Don't Believe Central Banks Overreacting To Inflation Pressures

UK

Speaking to the House of Commons Treasury Select Committee, Chancellor of the Exchequer Jeremy Hunt states that he does not believe that central banks are overreacting to inflation pressures. Livestream: https://www.parliamentlive.tv/Event/Index/79dc9e7f...

  • Says that 'We our confident in our forecasts, yet there can be no complacency'
  • Hunt: 'Core inflation will be harder to bring down.'
  • On the US Inflation Reduction Act says that the UK needs to 'mitigate against the risks' posed by the subsidies.' Earlier today Politico reported that: "Trade Secretary Kemi Badenoch will meet her EU counterpart Valdis Dombrovskis today to intensify talks on the U.K. and EU responses to Joe Biden’s Inflation Reduction Act. A Whitehall official tells [Politico] that Badenoch will seek to ensure the U.K. is not frozen out of Brussels’ response to the IRA..."
  • On the tax burden: 'It is true that as a result of the measures I took the tax burden does fall slightly, but it is in the context of the overall tax burden increasing'
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Homepagemarkets-real-timePolitical Market NewsPolitical RiskPolitical Risk BulletBank Of England (BOE) Market NewsBulletMarketsFixed Income BulletsForeign Exchange Bullets

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