Article 64E7T Rating agency Fitch downgrades UK credit outlook

Rating agency Fitch downgrades UK credit outlook

by
Guardian staff and agency
from Economics | The Guardian on (#64E7T)

Lack of independent forecasts at mini-budget and clash with Bank of England's inflation strategy prompts cut

Rating agency Fitch lowered the outlook for its credit rating for British government debt to negative" from stable" on Wednesday, citing risks posed by the measures announced in the chancellor's mini-budget.

The large and unfunded fiscal package announced as part of the new government's growth plan could lead to a significant increase in fiscal deficits over the medium term," Fitch said.

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