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Dutch International: UK tax may rise within the year, and interest rate cut expectations need to be adjusted accordingly.
Jin10 data March 27, news from ING analyst Chris Turner in a report stated that the pound was largely unaffected after the UK's budget announcement on Wednesday, followed by a rise. The budget had minimal impact on the pound. Turner indicated that the UK budget did not deal a heavy blow to the pound, but the fiscal spending plan may not necessarily be an absolute Favourable Information factor. ING believes that the UK may raise taxes later this year, which means that the market's expectations for the Bank of England to cut interest rates this year may not be sufficient.