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Fitch Downgrades UK Credit Rating To AA- After Sterling's Best Week Since 1985 Plaza Accord
The Pound Sterling soared a stunning 7.1% this week - its greatest weekly gains since 1985 and the beginning of the Plaza Accord - but apparently that strengthening currency was not enough for Fitch who downgraded The United Kingdom's credit rating to AA-. The downgrade reflects a significant weakening of the UK's public finances caused by the impact of the COVID-19 outbreak and a fiscal loosening stance that was instigated before the scale of the crisis became apparent. The downgrade also reflects the deep near-term damage to the UK economy caused by the coronavirus outbreak and the lingering uncertainty regarding ... (full story)
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- JackJones
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Confucius: the man who broke the mountain was the same man who started ...
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- Not-KPMG
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Beware of robber banks (RB), bad advisors.
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- Not-KPMG
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Beware of robber banks (RB), bad advisors.
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- UKBanter
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The elites think we are stupid. They are in the main quite correct.
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Technical Analyst & Trader @ Vikinsa
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- Not-KPMG
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Beware of robber banks (RB), bad advisors.
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- Not-KPMG
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Beware of robber banks (RB), bad advisors.