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Risks To Britain's Aaa Outlook Declining - Fitch

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Britain's top-notch credit rating looks increasingly secure thanks to the government's commitment to deficit reduction and a recovering banking sector, ratings agency Fitch said on Monday.

However, Fitch said there was a risk that inflationary pressures could spur a sharper-than-expected rise in interest rates which might hurt the economy.

"The strong budgetary consolidation effort and declining fiscal risks arising from the UK financial sector support the Stable Outlook on the UK's 'AAA' ratings," Maria Malas-Mroueh, Director in Fitch's Sovereign team.

June gilt futures extended gains after the news to touch a contract high and the yield spread between 10-year gilts and Bunds touched its lowest since November 2009, while sterling also extended gains to touch a session high versus the dollar.

Fitch said the government's deficit reduction plan was credible and it expected the March 23 budget to reaffirm the government's commitment to fiscal tightening.

However, it noted that uncertainty over how much spare capacity remained in the economy as well as the pace of economic recovery had increased the potential for monetary and fiscal policy errors.

Well that just proves all the doubters about the UK economy and austerity plans know nothing...

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As long as the UK government sticks to the NWO 'guidelines' the AAA rating is safe (yes both Blair/Brown and Cameron are NWO men).

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  • 312 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?

      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%

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