23rd March 2012

BNY Mellon: Newswire 22nd March 2012

Political point-scoring dominates the budget but Osborne sticks firmly to plan A

  • Deficit reduction remains the focus of the UK government
  • It is all important that the UK government’s deficit reduction plans retain credibility in order to stave off the threat of higher interest costs, says Newton’s Peter Hensman
  • The Chancellor received the best response to the budget that he could have hoped for; no reaction from currency and bond markets
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