Markets' response to the Budget

S&P Global Ratings calls into question Tether’s ability to maintain its US dollar peg, and UK chancellor Rachel Reeves takes the wraps off the highly anticipated Budget. Plus, India’s booming steel production might be helping the domestic economy, but it’s causing environmental damage and trade tensions

Mentioned in this podcast:

S&P downgrades Tether’s assets to lowest level            

UK Budget 2025: Reeves raises taxes by £26bn to all-time high  

The cost of India’s hunger for cheap steel 

Note: The FT does not use generative AI to voice its podcasts 

Today’s FT News Briefing was hosted and edited by Marc Filippino, and produced by Victoria Craig, Fiona Symon, and Lucy Baldwin. Our show was mixed by Kelly Garry. Additional help from Gavin Kallmann, Michael Lello and David da Silva. The FT’s acting co-head of audio is Topher Forhecz. The show’s theme music is by Metaphor Music. 

Read a transcript of this episode on FT.com

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