Fitch says ‘default is probable’ for Venezuela, lowers country’s credit rating

Venezuela is more likely to default on its debt because its ability to raise money is being hampered by U.S. sanctions, according to ratings agency Fitch. Fitch said in a statement Thursday that a Venezuela default is “probable given the further reduction in...

Bank of England’s talk of rate rise while winding down QE beggars belief

Michael Saunders surprised many when he voted in June for the Bank of England to increase interest rates. The former Citigroup economist, who joined the Bank’s nine-strong monetary policy committee (MPC) last year as one of the four external members, warned that...