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Market Update: London Stocks Little Changed on Tuesday
The FTSE 100 traded near the flat line at 7,050 on Tuesday, not far from a 14-month high of 7,130 hit in early May, as investors continued to focus on the prospect of strong economic growth this year and as fears about a bond buying tapering by central banks eased. Bank of England Governor Andrew Bailey said on Monday that he does not see inflation causing a serious problem in the medium to long-term, while US Federal Reserve pledged to keep its ultra-loose monetary policy for some time despite the recent spike in consumer prices. On the economic data front, British public borrowing totaled £31.7 billion in April, down from £47.3 billion a year earlier when the COVID pandemic first hit UK public finances. It was the first annual decline in borrowing since the start of the pandemic. [/s2If]
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