Currency Watch: Osborne has all reaching for the drinks cabinet (by thedrinksbusiness.com)

Posted: December 7, 2012 by wynmaker in Uncategorized
Tags: , , , , , , , , , , , ,

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George Osborne delivered a solemn assessment of the state of the UK economy this week in his Autumn Statement.

 

Although he could arguably be said to have glossed over some of the details, the Chancellor made no bones about it – we’re not in good shape. However, there weren’t really any surprises to speak of in the content of his speech.

The market expected cuts to growth and that is what we got. Likewise news of rising debt and an increased period of austerity did not come as a surprise to sterling markets, with both the pound and the yield on UK debt remaining largely ambivalent to the Chancellor’s speech.

The fact is that the poor growth – Q3 aside – that the UK has been saddled with throughout the year made the Chancellor’s task easier in some ways. He attempted to pull some ‘rabbits out of the hat’ in the form of… read on

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