The outlook for the UK’s banking system has been upgraded from negative to stable by ratings agency Moody’s Investors Service in a new report.
Moody’s state that the outlook change reflects the UK’s increasingly stable economic outlook despite its low growth prospects.
The agency states:
“Although the UK continues to face the prospect of low medium-term economic growth, Moody’s does not expect a deterioration in the operating environment. Moreover, unemployment has not increased as much as in previous recessions, thereby contributing to a stabilisation in banks’ asset quality.”
Integrity IFA for independent financial advice in Edinburgh and the Lothian’s.
