- We need to bring inflation and borrowing costs down.
- We will do that by keeping a tight grip on day-to-day spending and enforcing fiscal rules.
- Fiscal rules are non-negotiable.
These comments follow the surge in long term yields that are making borrowing costs to rise further. The rise in long term yields for the advanced countries is a global phenomenon as market participants don't like the persistent high government spending coupled with dovish central banks.
