Here's a great piece of fence-sitting by Moody's, as reported in last night's Evening Standard.
"If [the next UK Govt] were to tighten fiscal conditions too quickly, this could potentially choke off economic recovery. Alternatively, if the UK did not tighten fiscal conditions soon and credibly enough, ... market opinion may move against the UK".
And these people hold our AAA-rating in their hands. I am sure the incoming Chancellor will thank Moody's kindly for these pearls of wisdom.
ND
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