Bank of England: World Losing Faith in UK
In its latest quarterly reserach update, the Bank of England acknowledged the recent spike the cost of credit protection on UK gilts. The Bank noted that the cost of UK sovereign credit default swaps – a type of insurance against a nation failing to pay back its debts – has risen ‘both in absolute terms and relative to other triple-A rated sovereign borrowers’. Accordingly the Mail reported that the Bank of England warned Britain is in danger of losing its ‘credit …
In its latest quarterly reserach update, the Bank of England acknowledged the recent spike the cost of credit protection on UK gilts.
The Bank noted that the cost of UK sovereign credit default swaps – a type of insurance against a nation failing to pay back its debts – has risen ‘both in absolute terms and relative to other triple-A rated sovereign borrowers’.
Accordingly the Mail reported that the Bank of England warned Britain is in danger of losing its ‘credit standing’ with international investors.
Doesn’t look like the PBR has really done the trick with joe public, bankers and their bonuses or the markets. Nice one darling.
