Wednesday, November 28, 2012

An early look at 2013

Sterling Braces for a U.K. Credit Downgrade

"Worries that the U.K. could lose its triple-A credit rating next year are putting pressure on sterling, but investors are divided on how lasting the impact could be. Moody's Investors Service and Fitch Ratings have both indicated they could downgrade the U.K. if the government falls short of its efforts to curb government borrowing. Another worry is the struggling economy; the Bank of England last week cut its growth forecast for 2013, and warned that a return to the rates of growth common before the 2008 financial crisis is many years away". (maybe a minor downgrade won't halt the flow of European capital towards prime property in London?).

Posted by alan @ 11:01 PM (3513 views)
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