The UK Finance Minister Jeremy Hunt said after the inflation data release on Wednesday, “this government will prioritize help for the most vulnerable while delivering wider economic stability and driving long-term growth that will help everyone.”
Separately the country’s Foreign Minister James Cleverly said that “another leadership contest would not help financial markets stay calm.”
“Don't think it's a good idea to focus on Conservative Party internal frustrations,” Cleverly added.
Market reaction
At the time of writing, GBP/USD is trading 0.20% lower at 1.1292, feeling the heat of higher inflation.
