UK PM Spokesman: No plans to change measures set out in mini-budget

When asked whether the government is planning to change the measures set out in the mini-budget, British Prime Minister Lis Truss' spokesman responded by simply saying "no," as reported by Reuters.

Additional takeaways

"Finance minister has made it clear we don’t comment on market movements."

"Finance minister will come forward with a medium-term fiscal plan in coming months."

"Finance minister speaks regularly to the Governor of Bank of England (BoE), do not know when their next conversation will be."

"We have seen positive reaction from business groups to the fiscal statement."

"Inflation is something we are very conscious of, it is right we consider how best to control inflation."

"Important BoE independence remains, we don’t comment on interest rates."

Market reaction

Following these comments, the GBP/USD pair was last seen trading at 1.0740, where it was down 1% on a daily basis.

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