{"id":129646,"date":"2022-10-06T07:17:24","date_gmt":"2022-10-06T07:17:24","guid":{"rendered":"https:\/\/fin2me.com\/?p=129646"},"modified":"2022-10-06T07:17:24","modified_gmt":"2022-10-06T07:17:24","slug":"fitch-drops-credit-outlook-to-negative-as-bankers-summoned-to-no-11","status":"publish","type":"post","link":"https:\/\/fin2me.com\/business\/fitch-drops-credit-outlook-to-negative-as-bankers-summoned-to-no-11\/","title":{"rendered":"Fitch drops credit outlook to ‘negative’ as bankers summoned to No 11"},"content":{"rendered":"

Pound falls to all-time low against US dollar<\/h3>\n

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The UK Government’s credit outlook has been dropped from “stable” to “negative” by ratings agency Fitch, as the Chancellor summons bankers to Downing Street. Fitch said last night: “The large and unfunded fiscal package announced as part of the new government’s growth plan could lead to a significant increase in fiscal deficits over the medium term.” The rating agency maintained its “AA-” credit rating for Britain, which is one notch lower than S&P’s. This comes as Kwasi Kwarteng summoned bankers to Downing Street after market turmoil sent mortgages to a 14-year high. The dollar fought for a footing in choppy trade on Thursday, with support from upbeat US data. The dollar rose 1 percent on the euro and 1.3 percent on sterling overnight and was trying to hold those gains in bumpy early trade in Asia.<\/p>\n

FOLLOW BELOW FOR LIVE UPDATES…<\/strong><\/p>\n

<\/p>\n

Fitch drops credit outlook to ‘negative’ as bankers summoned to Downing Street<\/h3>\n

The UK Government’s credit outlook has been dropped from “stable” to “negative” by ratings agency Fitch, as the Chancellor summons bankers to Downing Street.<\/p>\n

Fitch said last night: “The large and unfunded fiscal package announced as part of the new government’s growth plan could lead to a significant increase in fiscal deficits over the medium term.”<\/p>\n

The rating agency maintained its “AA-” credit rating for Britain, which is one notch lower than S&P’s.<\/p>\n

This comes as Kwasi Kwarteng summoned bankers to Downing Street after market turmoil sent mortgages to a 14-year high.<\/p>\n

The dollar fought for a footing in choppy trade on Thursday, with support from upbeat US data. The dollar rose 1 percent on the euro and 1.3 percent on sterling overnight and was trying to hold those gains in bumpy early trade in Asia.<\/p>\n

Good morning<\/h3>\n

Good morning, I’m <\/span>Olivia Stringer<\/span> and I’ll be bringing you all the latest developments on the pound for the next eight hours. Please feel free to get in touch with me as I work if you have a story or tips to share! Your thoughts are always welcome.<\/span><\/p>\n

Email: olivia.stringer@reachplc.com <\/span><\/p>\n

Twitter: <\/span>@Livstringer_<\/span><\/b><\/p>\n

Source: Read Full Article<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Pound falls to all-time low against US dollar We use your sign-up to provide content in ways you’ve consented to and to improve our understanding […]<\/p>\n","protected":false},"author":3,"featured_media":129645,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6],"tags":[],"yoast_head":"\nFitch drops credit outlook to 'negative' as bankers summoned to No 11 - Fin2me<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/fin2me.com\/business\/fitch-drops-credit-outlook-to-negative-as-bankers-summoned-to-no-11\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Fitch drops credit outlook to 'negative' as bankers summoned to No 11 - Fin2me\" \/>\n<meta property=\"og:description\" content=\"Pound falls to all-time low against US dollar We use your sign-up to provide content in ways you’ve consented to and to improve our understanding [...]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/fin2me.com\/business\/fitch-drops-credit-outlook-to-negative-as-bankers-summoned-to-no-11\/\" \/>\n<meta property=\"og:site_name\" content=\"Fin2me\" \/>\n<meta property=\"article:published_time\" content=\"2022-10-06T07:17:24+00:00\" \/>\n<meta name=\"author\" content=\"Mark\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:image\" content=\"https:\/\/fin2me.com\/wp-content\/uploads\/2022\/10\/Fitch-drops-credit-outlook-to-negative-as-bankers-summoned-to-No-11.jpg\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Mark\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/fin2me.com\/business\/fitch-drops-credit-outlook-to-negative-as-bankers-summoned-to-no-11\/\",\"url\":\"https:\/\/fin2me.com\/business\/fitch-drops-credit-outlook-to-negative-as-bankers-summoned-to-no-11\/\",\"name\":\"Fitch drops credit outlook to 'negative' as bankers summoned to No 11 - 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