Britain’s credit rating faces another downgrade in the next month after Fitch warned it is reviewing the country’s “AAA” status in the wake of the Budget.
by Richard Blackden, The Telegraph:
The agency warned that there is a “heightened probability of a downgrade” as it conducts a review of the rating by the end of April.
The move prompted foreign-exchange traders to sell the pound in late trading in the City and caps a torrid week for Chancellor George Osborne.
There has been some expectation that the credit rating would come under renewed scrutiny after a Budget in which the official growth forecast for this year was slashed from 1.2pc to 0.6pc.
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