Mobile app version of munafa.us
Login or Join
 Learn then Earn
stockMarketNEWS

 story : S&P puts U.K. AA credit rating on negative outlook due to worries over fiscal plan #FinanceUSA #StockMarketNEWS S&P Global Ratings on Friday moved its outlook on the U.K.'s AA sovereign credit rating

@stockMarketNEWS Mon 03 Oct, 2022

Posted in: #FinanceUSA #StockMarketNEWS

S&P puts U.K. AA credit rating on negative outlook due to worries over fiscal plan #FinanceUSA #StockMarketNEWS
S&P Global Ratings on Friday moved its outlook on the U.K.'s AA sovereign credit rating to "negative" from "stable," citing concerns about the country's fiscal outlook. The British pound tumbled and yields on British government bonds, or gilts, soared after Treasury chief Kwasi Kwarteng on Sept. 23 unveiled a mini-budget plan that included 45 billion pounds in unfunded tax cuts. The Bank of England this week stepped in to buy gilts in an effort to stabilize the bond market. S&P, in a statement, said it now expects the U.K. government deficit to widen by an average 2.6% of gross domestic product annually through 2025, while net general government debt will continue on an upward trajectory, "in contrast to our previous expectation of it declining as a percentage of GDP from 2023." The ratings firm said the U.K. "continues to face balance-of-payment risks stemming from its persistently large current account deficit, which we forecast will widen to 6% of GDP this year, in part driven by higher costs of energy imports."


Munafa USA Munafa India Munafa NSE


Report

Login to follow story

More posts by @stockMarketNEWS

Munafa ebook, learn stock market trading

0 Comments

Sorted by latest first Latest Oldest Best

Daily analysis, news, Munafa stocks list in email:

Back to top | Use Dark Theme