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.
Read the full article at http://www.bloomberg.com/news/2013-04-22/pimco-s-gross-urges-u-k-to-ease-pace-of-austerity-ft-reports.html
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