Friday, September 30

UK finance minister declines to comment on fall in sterling

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LONDON — British finance minister Kwasi Kwarteng said it was a “very good day for the UK” on Friday, after he set out tax cuts and huge increases in borrowing in a statement that floored financial markets, with sterling and British government bonds in freefall.

Asked whether the fall in sterling was good for the economy, he said: “I don’t comment on market movements.” (Reporting by Muvija M, Editing by Kylie MacLellan)

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