UK Finance Minster Jeremy Hunt said in a BBC News interview on Monday, the economy is “likely to get worse before it gets better.”
“i don't know whether inflation has peaked or not,” Hunt said.
Also read: UK GDP rebounds 0.5% MoM in October vs. -0.1% expected
Market reaction
The Pound Sterling is picking up bids on the above comments, as GBP/USD tests 1.2250 once again, still down 0.05% on the day.