Salient to Investors:
The IMF says Britain’s failure to grow means it should ease its deficit-cutting plan.
Bill Gross at Pimco said the UK and much of Europe are wrong to pursue fiscal austerity because it won’t deliver growth – a reversal of his 2010 view that the UK should tighten policy. Gross said that long-term it is important to be fiscal and austere and have a relatively average or low rate of debt to GDP.
Fitch Ratings cut Britain to AA+ and predicts that debt will peak above 100 percent of GDP.
The median economists expects the UK economy expanded 0.1 percent in Q1.
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