Sept 27 (Reuters) – U.S. Treasury Secretary Janet Yellen stated on Tuesday the US was monitoring developments in Britain after the federal government unveiled a fiscal programme that despatched the pound to a report low in opposition to the greenback, the Monetary Instances reported.
The monetary turmoil of current days seemed to be confined to Britain and was not spreading to the worldwide financial system, Yellen informed reporters on the finish of her go to in North Carolina. She declined to touch upon Britain’s new price range, the newspaper stated.
The U.S Treasury didn’t instantly reply to Reuters’ request for remark.
Register now for FREE limitless entry to Reuters.com
Yellen’s feedback got here because the IMF overtly criticized Britain’s new financial technique on Tuesday, following the free fall within the sterling and gilt market that pressured the Financial institution of England to vow a “important” response to stabilise the financial system.
Yellen stated monetary markets have been “nonetheless functioning properly,” including that they “have not seen liquidity issues develop in markets”, the report added.
Yellen stated that each the US and Britain had “important inflation issues and central banks are targeted on desirous to convey inflation down.”
Register now for FREE limitless entry to Reuters.com
Reporting by Rhea Binoy in Bengaluru; Extra Reporting by Gokul Pisharody in Bengaluru; Enhancing by Ana Nicolaci da Costa
: .
