The influential Moody’s credit rating agency has dropped its negative outlook on the UK, saying that “policy predictability has been restored” following last year’s mini-Budget.
It follows S&P, which dropped its negative outlook in April.
Moody’s also noted the UK’s “more conciliatory” approach to EU trade.
Moody’s also noted the UK’s “more conciliatory” approach to EU trade.
Moody’s said that Chancellor Jeremy Hunt’s decision to reverse most of his predecessor’s tax cuts helped to inform its decision.
It said increased friction due to Brexit had slowed the UK’s bid to reduce inflation, which it sees returning to its 2% target in 2026.
It said greater co-operation with the EU may reduce Brexit-related uncertainty and boost the UK’s economic growth.
The three main credit ratings agencies cut their assessments of the UK’s creditworthiness in the wake of the disastrous mini-Budget last September, which included £45bn of unfunded tax cuts, without forecasts from the government’s spending watchdog, the OBR.
Lower credit ratings reflect a higher risk, which usually means borrowers will have to pay higher interest rates.
The influential Moody’s credit rating agency has dropped its negative outlook on the UK, saying that “policy predictability has been restored” following last year’s mini-Budget.
Moody’s also noted the UK’s “more conciliatory” approach to EU trade.
It follows S&P, which dropped its negative outlook in April.
Moody’s said that Chancellor Jeremy Hunt’s decision to reverse most of his predecessor’s tax cuts helped to inform its decision.
Moody’s also noted the UK’s “more conciliatory” approach to EU trade.
Moody’s also noted the UK’s “more conciliatory” approach to EU trade.
Moody’s said that Chancellor Jeremy Hunt’s decision to reverse most of his predecessor’s tax cuts helped to inform its decision.
It said increased friction due to Brexit had slowed the UK’s bid to reduce inflation, which it sees returning to its 2% target in 2026.
It said greater co-operation with the EU may reduce Brexit-related uncertainty and boost the UK’s economic growth.
The three main credit ratings agencies cut their assessments of the UK’s creditworthiness in the wake of the disastrous mini-Budget last September, which included £45bn of unfunded tax cuts, without forecasts from the government’s spending watchdog, the OBR.
Lower credit ratings reflect a higher risk, which usually means borrowers will have to pay higher interest rates.
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