July 9, 2020 / 7:51 AM / a month ago

UK's Sunak: we must watch interest rates and debt costs

Britain's Chancellor of the Exchequer Rishi Sunak leaves Downing Street, in London, Britain July 8, 2020. REUTERS/Hannah Mckay

LONDON (Reuters) - British finance minister Rishi Sunak said on Thursday it was important to be alert to possible changes in interest rates, adding it was likely the cost of servicing debt would be included in the government’s future budget rules.

“We are able to borrow now at record low rates, that enables us to carry a higher degree of debt,” Sunak told BBC radio.

“But it will be important that we remain alert to changes in those interest rates, which is why, if we think about our future fiscal framework, it is likely and probably sensible that we have some notion of the interest cost as part of that.”

Writing by Alistair Smout; Editing by William Schomberg

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