StockWatch: UK’s Spring Budget Falls Flat as Inflation Rises!

Chancellor Rishi Sunak has set out his Spring Budget in the hope to counteract rising inflation.

He warned the UK’s post-pandemic recovery had been blown off course by the war in Ukraine.

The annual inflation rate increased to 6.2%. It is the highest inflation rate since March of 1992, cable witnessed a 100 pip sell-off yesterday.

With the BoE looking at a fourth interest rate hike, just where will cable go from here?

Timestamps:

• GBPUSD 02:00
• UK100 03:35

 

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