British Prime Minister Kir Starmer announced his resignation

British Prime Minister Keir Starmer has resigned, according to CNBC. The United Kingdom is set to see its seventh change in prime minister over the past decade. Starmer’s most likely successor is considered to be his fellow Labour Party member, Greater Manchester Mayor Andy Burnham.

Reports of the prime minister’s impending resignation had been circulating over the weekend, and amid speculation on Monday morning, June 22, the British pound fell 0.2% against the dollar, and the yield on 10-year government bonds dropped by one basis point to 4.8306%. The FTSE 100 stock index fell by a symbolic 0.05%, and after the official announcement, it even narrowed its losses.

This news story is being updated.

This article was AI-translated and verified by a human editor