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UK has work to do to restore global reputation: BoE's Ramsden

Economy Nov 24, 2022 14:15
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© Reuters. Bank of England Deputy Governor Dave Ramsden sits for a portrait during an interview with Reuters, at the Bank of England, London, Britain, August 8, 2022. REUTERS/Toby Melville
 
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LONDON (Reuters) - Britain still has work to do to restore its international reputation after the turmoil which followed finance minister Kwasi Kwarteng's Sept. 23 mini-budget, Bank of England deputy governor Dave Ramsden said on Thursday.

Although risk premia on British government bonds have fallen back to levels before the mini-budget, Ramsden said he had still detected some remaining concern during recent travel to meet foreign policymakers.

"Credibility is hard won but easily lost. So whilst on the surface the facts point to this premium having disappeared, there's no doubt that our reputation has taken a hit ... as a kind of economic policymaking jurisdiction," he told an economics conference hosted by King's College London.

The IMF welcomed budget plans set out last week by new finance minister Jeremy Hunt.

 

 

UK has work to do to restore global reputation: BoE's Ramsden
 

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Comments (3)
NBS MUSIC
NBS MUSIC Nov 24, 2022 16:35
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No chance now - way too late AND infested and infiltrated.
Graham Kinnear
Graham Kinnear Nov 24, 2022 15:45
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Nothing like managed decline and no confidence in your fellow citizens
Chris Chadwick
Chris Chadwick Nov 24, 2022 15:17
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