Market News
UK markets are orderly, no need to intervene, minister says - REUTERS
By David Milliken and Muvija M
LONDON, Jan 9 (Reuters) - British financial markets remain orderly and there is no need for authorities to intervene, deputy finance minister Darren Jones said on Thursday after sterling fell to a 14-month low and 30-year borrowing costs hit their highest since 1998.
"UK gilt markets continue to function in an orderly way. Underlying demand for the UK's debt remains strong," Jones told parliament on Thursday.
"There is no need for any emergency intervention," Jones added in response to a follow-up question from the Conservative opposition about why finance minister Rachel Reeves - who is due to travel to China - was not in parliament.
