The race for the PM position came down to the last two during the week:

• The final is set: It will be Sunak or Truss as the next UK Prime Minister

Bloomberg (gated) have polled analysts, finding that eight of the nine economists surveyed said Sunak would handle the economy better than Truss:

Truss has promised immediate reductions in taxes on companies and personal income, a measure that would probably stimulate the economy and boost inflation. The central bank, economists say, would probably respond by hiking rates, which are already at their highest point since 2009.

And, in the other corner:

Sunak has said he’d cut taxes only when the public finances are strengthened

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I’m not picking sides, but Sunak’s time as Chancellor, doing the bidding of current PM Johnson, was not impressive.

Liz Truss and Rishi Sunak are slugging it out. There is around 7 weeks of voting ahead. This will give the UK a new PM just in time for another winter of discontent; high inflation & high rates are a bleak backdrop.

This article was written by Eamonn Sheridan at www.forexlive.com.