UK Markets Shrug Debt Downgrade
British markets shrug off the much anticipated Moody’s #UK debt downgrade as FTSE holding on to its gains for the day up +0.8%, but pound Stirling falling 0.7% against USD.
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UK
Moody’s Downgrades UK Debt to AA1
The key interrelated drivers of today’s action are: 1. The continuing weakness in the UK’s medium-term growth outlook, with a period of sluggish growth which Moody’s now expects will extend into the second half of the decade; 2. The challenges that subdued medium-term growth prospects pose to the government’s fiscal consolidation programme, which will now
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UK Economy Needs (Canadian) Kick-start
British press was in an uproar last month when Canadian Mark Carney was announced as the incoming Bank of England (BOE) governor. First time a “foreigner” has held the top job at the BOE resulted in criticism of the bank. Mr. Carney was labelled by the Sun newspaper as “Heavy Metal Fan to Run Bank of
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