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UK PM Starmer reportedly tells Cabinet that he will not be setting out a timetable for departure

This statement from UK PM Starmer suggests a commitment to stability amidst political turmoil, avoiding any timetable for his departure, which may alleviate some immediate concerns regarding governance in the UK.

Newsquawk StaffPublished On the live feed at — 12 more headlines followed before this page went public
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Full quote:

  • "As I said yesterday, I take responsibility for these election results and I take responsibility for delivering the change we promised.“The past 48 hours have been destabilising for government and that has a real economic cost for our country and for families.“The Labour Party has a process for challenging a leader and that has not been triggered.“The country expects us to get on with governing. That is what I am doing and what we must do as a Cabinet."
Context

The implication for markets is significant; a stable government is generally perceived as favorable for GBP and risk assets, while uncertainty often leads to volatility in forex and bond markets. However, buyers should remain cautious about longer-term implications if political challenges persist.

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