Posted 10/20/2023, 10:05:00 PM
Moody's Upgrades UK Outlook to Stable, Citing Improved Policy Predictability After Truss Turmoil
- Moody's upgraded UK's outlook to 'stable' from 'negative' citing restored policy predictability after last year's mini-budget under Liz Truss
- Rating affirmed at 'Aa3', expects fiscal policy to gradually tighten over coming years
- Inflation at 6.7% highest among major economies; IMF forecasts 0.5% growth in 2023, lowest in G7
- Government borrowed £81.7 billion in H1 2023/24, more than H1 2022 but below March forecast
- Finance minister Hunt said higher borrowing costs 'not sustainable', fiscal update on Nov 22