Pound Falls Again, U K Credit Rating ‘Negative’

[FatticusInch]

https://news.sky.com/story/pound-falls-again-as-agency-downgrades-outlook-for-uks-credit-rating-to-negative-12713274

What was all that guff yesterday about growth?

/Fitch revealed on Wednesday
night that it had cut the outlook
for its credit rating on UK
government debt to "negative"
from "stable"
It maintained its overall rating
with AAA being the ideal verdict
at AA-.
The shift reflected, it said.
mounting concern over the level
of borrowing required to fund the
chancellor's tax and spending
pledges made in the Commons
last month./

[davebro]

//AA: still high quality; still has a low default risk.//

Tommy sez still too windy for a trip to Dover!

[FatticusInch]

Careful DD.

[jno]

from stable to negative. It's the "unfunded" bit that's spooking the markets, I suspect.

[Gromit]

// The agency hit out at the lack of independent budget forecasts from the Office for Budget Responsibility (OBR) in the statement and the policy clash that sees the government trying to grow the economy at a time when the Bank of England is trying to shrink demand in its fight against inflation. //

In other words, the right hand doesn’t know what the left hand is doing.

A chaotic shambles.