Lamport Bassitt Solicitors - Legal News - Sterling rate impacted by debt findings


	LATEST LATEST LEGAL NEWS ARCHIVE		LATEST NEWS & EVENTS Sterling rate impacted by debt findings Those on the lookout for banking and financial solicitor services might have noted that the rate of sterling has been impacted by news that the Office for National Statistics has revealed public sector debt rose to �14.5 billion in June. This is a record 63.9 per cent as a proportion of gross domestic product - and may have caught the attention of consumers keen to overcome the effects of the credit crunch. Following the release of the data, sterling fell to 1.1724 - dropping 0.4 per cent against the US dollar. Tiffany Burk, European market analyst at Travelex Global Business Payments, stated: "This is the biggest public sector net cash requirement for June since records began in 1984 and it is helping to send the pound lower in trading this morning." Meanwhile, business secretary Vince Cable is attending the Business, Innovation and Skills Select Committee in a bid to promote the idea of combining efficiency savings and sustainable growth. Posted by Helen Causer Related Articles: 22/9/2011 - Manufacturers targeting strategic acquisitions to drive growth 21/9/2011 - Mergers and acquisitions rule changes take effect 14/9/2011 - Govt wants to make London a 'legal hub' for the world 12/9/2011 - ICB banking reforms: banks set to be given until 2019 to prepare 8/9/2011 - Banking reforms in danger of being 'watered down' More Corporate Law News