LONDON (Reuters) – British Chancellor of the Exchequer Kwasi Quarting said on Sunday he was focusing on boosting long-term growth rather than short-term market moves when he was challenged by the sharp drop in sterling and bond prices in the wake of his first financial statement.
“As Chancellor of the Exchequer, I don’t comment on market movements. My focus is developing the economy and making sure Britain is an attractive place for investment,” he told the BBC.
Sterling fell more than 3% to its lowest level since 1985 against the US dollar on Friday, and fell against the euro and the Japanese yen as well, while government bonds posted their biggest daily sell-off in decades.
