British Pound, Bonds Roiled as Tax-Cut Plans Spook Investors

In Wall St. Journal by Newswire.news


U.K. financial markets were rattled again by investor worries that the country’s largest tax cuts in decades would spark higher inflation and put government finances at risk.

The Bank of England said it will raise interest rates as much as needed to hit its inflation targets, the bank’s comments came after U.K. markets were disrupted over concerns as the U.K. the government planned massive tax cuts and new spending, sparking fears it will lead to higher inflation and place government finances at risk.

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