<p>Fitch Ratings has downgraded the US government’s credit rating from top AAA to AA+ amidst concerns over the country’s ability to handle its finances and debt burden.</p>

<p>“In Fitch’s view, there has been a steady deterioration in standards of governance over the last 20 years, including on fiscal and debt matters," the rating agency said Tuesday (August 1).</p>

<p>It said that the US appeared to suffer from an “erosion of governance," pointing out the recent debt ceiling crisis as an example.</p>

<p>This is the second time in the nation’s history that US' credit rating has been cut.</p>

<h2><strong>Yellen slams move</strong></h2>

<p>Treasury Secretary Janet Yellen, however, disagreed with Fitch’s assessment, calling the downgrade "arbitrary".</p>

<p>It was based on "outdated data" from the period 2018 to 2020, she said.</p>

<p>"Treasury securities remain the world's preeminent safe and liquid asset, and... the American economy is fundamentally strong," she said in a statement.</p>

<p>However, the cut will have little impact as the US still holds the highest possible rating, deemed conducive for investments.</p>

<h2><strong>Warnings to US govt</strong></h2>

<p>On May 24, the&nbsp;US-based ratings agency said that it could remove the government’s triple-A rating after Congress again struggled to raise the borrowing limit.</p>

<p>A week later, a deal was reached that suspended the limit and cut about $1.5 trillion from the government deficit over the next decade.</p>

<p>Fitch cited the worsening political divisions around spending and tax policy as a key reason for its decision.</p>

<p>It said that the US governance has declined relative to other highly rated countries and it noted “repeated debt limit standoffs and last-minute resolutions.”</p>

<p>Notably, the January 6 insurrection was one of the key factors for Fitch to cut the rating, and it was informed to the Biden administration, a person familiar with the discussions between the administration and the rating agency told AP news agency.</p>

<p>Another factor in influencing Fitch’s decision is that it expects the US economy to slip into “mild recession” in the last three months of this year and early next year.</p>

<p>Fitch’s decision follows another credit rating agency, Standard &amp; Poor's, which has already reduced the US's rating from the top AAA status to AA+ following a similar row over the debt ceiling in 2011.</p>

<p><em>(With inputs from agencies)</em></p>

<p><strong>WATCH WION LIVE HERE</strong></p>

<p><iframe allow="accelerometer; autoplay; encrypted-media; gyroscope; picture-in-picture" allowfullscreen="" frameborder="0" height="350" src="https://www.wionews.com/live-tv/embed?autoplay=1&amp;mute=1" width="100%"></iframe></p>


Fitch Ratings has downgraded the US government’s credit rating from top AAA to AA+ amidst concerns over the country’s ability to handle its finances and debt burden.

Fitch Ratings has downgraded the US government’s credit rating from top AAA to AA+ amidst concerns over the country’s ability to handle its finances and debt burden. “In Fitch’s view, there has been a steady deterioration in standards of governance over the last 20 years, including on fiscal and debt matters," the rating agency said Tuesday (August 1). It said that the US appeared to suffer from an “erosion of governance," pointing out the recent debt ceiling crisis as an example. This is the second time in the nation’s history that US' credit rating has been cut. Yellen slams move Treasury Secretary Janet Yellen, however, disagreed with Fitch’s assessment, calling the downgrade "arbitrary". It was based on "outdated data" from the period 2018 to 2020, she said. "Treasury securities remain the world's preeminent safe and liquid asset, and... the American economy is fundamentally strong," she said in a statement. However, the cut will have little impact as the US still holds the highest possible rating, deemed conducive for investments. Warnings to US govt On May 24, the US-based ratings agency said that it could remove the government’s triple-A rating after Congress again struggled to raise the borrowing limit. A week later, a deal was reached that suspended the limit and cut about $1.5 trillion from the government deficit over the next decade. Fitch cited the worsening political divisions around spending and tax policy as a key reason for its decision. It said that the US governance has declined relative to other highly rated countries and it noted “repeated debt limit standoffs and last-minute resolutions.” Notably, the January 6 insurrection was one of the key factors for Fitch to cut the rating, and it was informed to the Biden administration, a person familiar with the discussions between the administration and the rating agency told AP news agency. Another factor in influencing Fitch’s decision is that it expects the US economy to slip into “mild recession” in the last three months of this year and early next year. Fitch’s decision follows another credit rating agency, Standard & Poor's, which has already reduced the US's rating from the top AAA status to AA+ following a similar row over the debt ceiling in 2011. (With inputs from agencies) WATCH WION LIVE HERE

Fitch downgrades US credit ratings from AAA to AA+, Biden admin calls move ‘arbitrary’

<p>Rockstar Games executives may be scratching their heads after more than 90 videos of the gameplay of its under-development Grand Theft Auto 6 were&nbsp;leaked on myriad social media platforms on Sunday.&nbsp;</p>

<p>Reportedly, a user named 'teapotuberhacker' on GTAForums claimed that they were behind the leak which comes from a test build of GTA 6. The post, which has been deleted since was captioned as saying, "Here are 90 footage/clips from GTA 6. It's possible I could leak more data soon, GTA 5 and 6 source code and assets, GTA 6 testing build."</p>

<p>The authenticity of the videos can be gauged by the fact that Rockstar Studios is working round the clock to take down the gameplay videos on YouTube and other social media platforms.&nbsp;</p>

<p>In one of the leaked videos, a player-character named Lucia alongside her accomplice Jason, in true GTA style robs a waffle restaurant.&nbsp;</p>

<div class="ui-state-default" contenteditable="false">
<div class="twitter-block" draggable="false">
<blockquote class="twitter-tweet">
<p dir="ltr" lang="en">GTA 6 gameplay leak. Seems very VERY legit. <a href="https://t.co/tZjpfA1M2T">pic.twitter.com/tZjpfA1M2T</a></p>
— Mars (@Mars69lol) <a href="https://twitter.com/Mars69lol/status/1571377619433836546?ref_src=twsrc%5Etfw">September 18, 2022</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
<a class="close-mark close-div" href="#" id="jqclosemark">×</a></div>

<p>In an Instagram post,&nbsp;Rockstar Games confirmed that it recently "suffered a network intrusion"&nbsp;that resulted in the&nbsp;massive leak of 90 videos of early development versions of Grand Theft Auto 6.&nbsp;</p>

<div class="ui-state-default" contenteditable="false">
<div class="twitter-block" draggable="false">
<blockquote class="instagram-media" data-instgrm-captioned="" data-instgrm-permalink="https://www.instagram.com/p/CisIFVLgEaz/?utm_source=ig_embed&amp;utm_campaign=loading" data-instgrm-version="14" style=" background:#FFF; border:0; border-radius:3px; box-shadow:0 0 1px 0 rgba(0,0,0,0.5),0 1px 10px 0 rgba(0,0,0,0.15); margin: 1px; max-width:540px; min-width:326px; padding:0; width:99.375%; width:-webkit-calc(100% - 2px); width:calc(100% - 2px);">
<div style="padding:16px;">
<div style=" display: flex; flex-direction: row; align-items: center;">
<div style="background-color: #F4F4F4; border-radius: 50%; flex-grow: 0; height: 40px; margin-right: 14px; width: 40px;">&nbsp;</div>

<div style="display: flex; flex-direction: column; flex-grow: 1; justify-content: center;">
<div style=" background-color: #F4F4F4; border-radius: 4px; flex-grow: 0; height: 14px; margin-bottom: 6px; width: 100px;">&nbsp;</div>

<div style=" background-color: #F4F4F4; border-radius: 4px; flex-grow: 0; height: 14px; width: 60px;">&nbsp;</div>
</div>
</div>

<div style="padding: 19% 0;">&nbsp;</div>

<div style="display:block; height:50px; margin:0 auto 12px; width:50px;"><a href="https://www.instagram.com/p/CisIFVLgEaz/?utm_source=ig_embed&amp;utm_campaign=loading" style=" background:#FFFFFF; line-height:0; padding:0 0; text-align:center; text-decoration:none; width:100%;" target="_blank"><svg height="50px" version="1.1" viewbox="0 0 60 60" width="50px" xmlns="https://www.w3.org/2000/svg" xmlns:xlink="https://www.w3.org/1999/xlink"><g fill="none" fill-rule="evenodd" stroke="none" stroke-width="1"><g fill="#000000" transform="translate(-511.000000, -20.000000)"><g><path d="M556.869,30.41 C554.814,30.41 553.148,32.076 553.148,34.131 C553.148,36.186 554.814,37.852 556.869,37.852 C558.924,37.852 560.59,36.186 560.59,34.131 C560.59,32.076 558.924,30.41 556.869,30.41 M541,60.657 C535.114,60.657 530.342,55.887 530.342,50 C530.342,44.114 535.114,39.342 541,39.342 C546.887,39.342 551.658,44.114 551.658,50 C551.658,55.887 546.887,60.657 541,60.657 M541,33.886 C532.1,33.886 524.886,41.1 524.886,50 C524.886,58.899 532.1,66.113 541,66.113 C549.9,66.113 557.115,58.899 557.115,50 C557.115,41.1 549.9,33.886 541,33.886 M565.378,62.101 C565.244,65.022 564.756,66.606 564.346,67.663 C563.803,69.06 563.154,70.057 562.106,71.106 C561.058,72.155 560.06,72.803 558.662,73.347 C557.607,73.757 556.021,74.244 553.102,74.378 C549.944,74.521 548.997,74.552 541,74.552 C533.003,74.552 532.056,74.521 528.898,74.378 C525.979,74.244 524.393,73.757 523.338,73.347 C521.94,72.803 520.942,72.155 519.894,71.106 C518.846,70.057 518.197,69.06 517.654,67.663 C517.244,66.606 516.755,65.022 516.623,62.101 C516.479,58.943 516.448,57.996 516.448,50 C516.448,42.003 516.479,41.056 516.623,37.899 C516.755,34.978 517.244,33.391 517.654,32.338 C518.197,30.938 518.846,29.942 519.894,28.894 C520.942,27.846 521.94,27.196 523.338,26.654 C524.393,26.244 525.979,25.756 528.898,25.623 C532.057,25.479 533.004,25.448 541,25.448 C548.997,25.448 549.943,25.479 553.102,25.623 C556.021,25.756 557.607,26.244 558.662,26.654 C560.06,27.196 561.058,27.846 562.106,28.894 C563.154,29.942 563.803,30.938 564.346,32.338 C564.756,33.391 565.244,34.978 565.378,37.899 C565.522,41.056 565.552,42.003 565.552,50 C565.552,57.996 565.522,58.943 565.378,62.101 M570.82,37.631 C570.674,34.438 570.167,32.258 569.425,30.349 C568.659,28.377 567.633,26.702 565.965,25.035 C564.297,23.368 562.623,22.342 560.652,21.575 C558.743,20.834 556.562,20.326 553.369,20.18 C550.169,20.033 549.148,20 541,20 C532.853,20 531.831,20.033 528.631,20.18 C525.438,20.326 523.257,20.834 521.349,21.575 C519.376,22.342 517.703,23.368 516.035,25.035 C514.368,26.702 513.342,28.377 512.574,30.349 C511.834,32.258 511.326,34.438 511.181,37.631 C511.035,40.831 511,41.851 511,50 C511,58.147 511.035,59.17 511.181,62.369 C511.326,65.562 511.834,67.743 512.574,69.651 C513.342,71.625 514.368,73.296 516.035,74.965 C517.703,76.634 519.376,77.658 521.349,78.425 C523.257,79.167 525.438,79.673 528.631,79.82 C531.831,79.965 532.853,80.001 541,80.001 C549.148,80.001 550.169,79.965 553.369,79.82 C556.562,79.673 558.743,79.167 560.652,78.425 C562.623,77.658 564.297,76.634 565.965,74.965 C567.633,73.296 568.659,71.625 569.425,69.651 C570.167,67.743 570.674,65.562 570.82,62.369 C570.966,59.17 571,58.147 571,50 C571,41.851 570.966,40.831 570.82,37.631"></path></g></g></g></svg></a></div>

<div style="padding-top: 8px;">
<div style=" color:#3897f0; font-family:Arial,sans-serif; font-size:14px; font-style:normal; font-weight:550; line-height:18px;"><a href="https://www.instagram.com/p/CisIFVLgEaz/?utm_source=ig_embed&amp;utm_campaign=loading" style=" background:#FFFFFF; line-height:0; padding:0 0; text-align:center; text-decoration:none; width:100%;" target="_blank">View this post on Instagram</a></div>
</div>

<div style="padding: 12.5% 0;">&nbsp;</div>

<div style="display: flex; flex-direction: row; margin-bottom: 14px; align-items: center;">
<div>
<div style="background-color: #F4F4F4; border-radius: 50%; height: 12.5px; width: 12.5px; transform: translateX(0px) translateY(7px);">&nbsp;</div>

<div style="background-color: #F4F4F4; height: 12.5px; transform: rotate(-45deg) translateX(3px) translateY(1px); width: 12.5px; flex-grow: 0; margin-right: 14px; margin-left: 2px;">&nbsp;</div>

<div style="background-color: #F4F4F4; border-radius: 50%; height: 12.5px; width: 12.5px; transform: translateX(9px) translateY(-18px);">&nbsp;</div>
</div>

<div style="margin-left: 8px;">
<div style=" background-color: #F4F4F4; border-radius: 50%; flex-grow: 0; height: 20px; width: 20px;">&nbsp;</div>

<div style=" width: 0; height: 0; border-top: 2px solid transparent; border-left: 6px solid #f4f4f4; border-bottom: 2px solid transparent; transform: translateX(16px) translateY(-4px) rotate(30deg)">&nbsp;</div>
</div>

<div style="margin-left: auto;">
<div style=" width: 0px; border-top: 8px solid #F4F4F4; border-right: 8px solid transparent; transform: translateY(16px);">&nbsp;</div>

<div style=" background-color: #F4F4F4; flex-grow: 0; height: 12px; width: 16px; transform: translateY(-4px);">&nbsp;</div>

<div style=" width: 0; height: 0; border-top: 8px solid #F4F4F4; border-left: 8px solid transparent; transform: translateY(-4px) translateX(8px);">&nbsp;</div>
</div>
</div>

<div style="display: flex; flex-direction: column; flex-grow: 1; justify-content: center; margin-bottom: 24px;">
<div style=" background-color: #F4F4F4; border-radius: 4px; flex-grow: 0; height: 14px; margin-bottom: 6px; width: 224px;">&nbsp;</div>

<div style=" background-color: #F4F4F4; border-radius: 4px; flex-grow: 0; height: 14px; width: 144px;">&nbsp;</div>
</div>

<p style=" color:#c9c8cd; font-family:Arial,sans-serif; font-size:14px; line-height:17px; margin-bottom:0; margin-top:8px; overflow:hidden; padding:8px 0 7px; text-align:center; text-overflow:ellipsis; white-space:nowrap;"><a href="https://www.instagram.com/p/CisIFVLgEaz/?utm_source=ig_embed&amp;utm_campaign=loading" style=" color:#c9c8cd; font-family:Arial,sans-serif; font-size:14px; font-style:normal; font-weight:normal; line-height:17px; text-decoration:none;" target="_blank">A post shared by Rockstar Games (@rockstargames)</a></p>
</div>
</blockquote>
<script async src="//www.instagram.com/embed.js"></script></div>
<a class="close-mark close-div" href="#" id="jqclosemark">×</a></div>

<p>Rumours had been doing the rounds ever since Rockstar announced the development of GTA 6 that it will have a male and female protagonist. Several netizens claimed that it was Rockstar's satirical take on the Bonnie and Clyde story.&nbsp;</p>

<p>Moreover, the NPC conversations, cars, and other assets remind one of GTA 5. Given that GTA 5 was launched in 2013 and that rumours of the new game being in development were swirling since 2014, it is only reasonable that the leaked videos carry a rather older look and feel.&nbsp;</p>

<p>The game is still far from being completed and the leak could push Rockstar to delay the release of the product. Some experts believe that the leak will force Rockstar to cull the work-from-home flexibility for its developers which may cause a temporary halt in the development process.&nbsp;</p>

<p>GTA is one of the highest-selling AAA video games in the world with its popularity still high, nearly 10 years after the launch of its previous iteration, GTA V. The studio had focused its energies on expanding GTA V online and developing Red Dead Redemption 2.</p>

<p>However, since both products have been out in the public for several years now and are reasonably successful, Rockstar is fully committed to its flagship project.&nbsp;</p>

<p>The fans, however, are elated that after several years of little to no information, they finally have something to devour, until the game or its official trailer is released.&nbsp;</p>

<p><em>(With inputs from agencies)</em></p>

<p><strong>WATCH WION LIVE HERE:&nbsp;</strong><br />
<iframe allow="accelerometer; autoplay; encrypted-media; gyroscope; picture-in-picture" allowfullscreen="" frameborder="0" height="350" loading="”lazy”" src="https://www.wionews.com/live-tv/embed?autoplay=1&amp;mute=1" width="100%"></iframe> &nbsp;</p>


Rockstar Games executives may be scratching their heads after more than 90 videos of the gameplay of its under-development Grand Theft Auto 6 were leaked on myriad social media platforms on Sunday.

Rockstar Games executives may be scratching their heads after more than 90 videos of the gameplay of its under-development Grand Theft Auto 6 were leaked on myriad social media platforms on Sunday. Reportedly, a user named 'teapotuberhacker' on GTAForums claimed that they were behind the leak which comes from a test build of GTA 6. The post, which has been deleted since was captioned as saying, "Here are 90 footage/clips from GTA 6. It's possible I could leak more data soon, GTA 5 and 6 source code and assets, GTA 6 testing build." The authenticity of the videos can be gauged by the fact that Rockstar Studios is working round the clock to take down the gameplay videos on YouTube and other social media platforms. In one of the leaked videos, a player-character named Lucia alongside her accomplice Jason, in true GTA style robs a waffle restaurant. GTA 6 gameplay leak. Seems very VERY legit. pic.twitter.com/tZjpfA1M2T — Mars (@Mars69lol) September 18, 2022 × In an Instagram post, Rockstar Games confirmed that it recently "suffered a network intrusion" that resulted in the massive leak of 90 videos of early development versions of Grand Theft Auto 6. View this post on Instagram A post shared by Rockstar Games (@rockstargames) × Rumours had been doing the rounds ever since Rockstar announced the development of GTA 6 that it will have a male and female protagonist. Several netizens claimed that it was Rockstar's satirical take on the Bonnie and Clyde story. Moreover, the NPC conversations, cars, and other assets remind one of GTA 5. Given that GTA 5 was launched in 2013 and that rumours of the new game being in development were swirling since 2014, it is only reasonable that the leaked videos carry a rather older look and feel. The game is still far from being completed and the leak could push Rockstar to delay the release of the product. Some experts believe that the leak will force Rockstar to cull the work-from-home flexibility for its developers which may cause a temporary halt in the development process. GTA is one of the highest-selling AAA video games in the world with its popularity still high, nearly 10 years after the launch of its previous iteration, GTA V. The studio had focused its energies on expanding GTA V online and developing Red Dead Redemption 2. However, since both products have been out in the public for several years now and are reasonably successful, Rockstar is fully committed to its flagship project. The fans, however, are elated that after several years of little to no information, they finally have something to devour, until the game or its official trailer is released. (With inputs from agencies) WATCH WION LIVE HERE:

GTA 6 gameplay videos leaked. Shows city location and the new protagonists

Economists on Monday warned that a hung parliament may risk Australia&#39;s coveted AAA credit rating with the inconclusive result of weekend elections seen as bad news for the economy and investment markets.<br />
<br />
A final outcome from the polls won&#39;t be known for days, if not weeks, with millions of postal and absentee votes still to be processed, which could prove crucial in a race too close to call.<br />
<br />
It adds to the global trend of rising political uncertainty, amid concern about Donald Trump&#39;s run for the White House and Britain&#39;s vote to leave the European Union (EU).<br />
<br />
Despite this, markets were undeterred with the benchmark ASX/200 only marginally lower at 5,235.4 in morning trade while the Aussie dollar being down by 0.4 per cent at 74.66 US cents.<br />
<br />
So far Prime Minister Malcolm Turnbull&#39;s Liberal/National coalition and the Labor opposition both have 67 seats, the Greens one and independents four, according to results from the Australian Broadcasting Corporation.<br />
<br />
That leaves 11 seats to be decided with 76 needed to rule outright in the 150-seat House of Representatives, raising the prospect of a second hung parliament in three years, where neither side can form a majority government.<br />
<br />
Instead, support would be needed from the often obstructionist minor lawmakers. A similar scenario is forecasted for the upper house Senate, which does not bode well for getting legislation passed, potentially causing policy gridlock.<br />
<br />
Economists said this could stymie efforts to rein in debt and deficits, undermining business and consumer confidence with repercussions for the economy.<br />
<br />
&quot;Even if the coalition does win government it won&#39;t have control of the Senate with the balance of power remaining with the Greens and minority parties which will act as a huge constraint on the government,&quot; said AMP Capital chief economist Shane Oliver.<br />
<br />
&quot;The end result will be poor prospects for getting government spending and the budget deficit under control over the next three years and for the coalition implementing its policy to cut corporate taxes let alone undertaking serious productivity enhancing economic reforms.&quot;<br />
<br />
Australia is one of only a handful of nations to hold the top AAA credit rating from all three major agencies, having dodged recession during the global financial crisis.<br />
<br />
They are yet to pass judgement on the weekend polls but Oliver said political uncertainty never boded well.<br />
<br />
&quot;Whoever wins it means that the risk of a sovereign credit rating downgrade has increased further,&quot; he said, in a view echoed by leading independent economist Saul Eslake.<br />
<br />
&quot;I don&#39;t know whether any of them will formally downgrade Australia&#39;s rating, or put Australia on a &#39;negative watch&#39;, but I wouldn&#39;t be surprised if at least one of them does,&quot; he told the Australian Financial Review.<br />
<br />
A downgrade would mirror what happened in Britain in the days after its decision to exit the EU, due to the economic uncertainties.<br />
<br />
Generally, losing a AAA rating means the nation would be forced to pay higher interest on its debt.<br />
<br />
TD Securities analyst Annette Beacher said hung parliaments had never historically been conducive to good governance and policy reform and &quot;the risk of losing AAA/stable is not insignificant&quot;.<br />
<br />
&quot;There is a significant probability that Australia experiences another three years of fiscal policy paralysis,&quot; she said, adding that it would leave the Reserve Bank of Australia &quot;as the only public authority with tools to manage the business cycle&quot;.<br />
<br />
The central bank holds its monthly board meeting on Tuesday. With rates already at a historic low of 1.75 per cent, most economists do not expect it to intervene again just yet.<br />
<br />
But they see a possibility of a cut to 1.5 per cent in August should official inflation figures continue to point to benign price pressures, a sign of a flagging economy.<br />
<br />
(AFP)

Australia is one of the only nations to hold top AAA credit rating, having dodged recession during the global financial crisis

Economists on Monday warned that a hung parliament may risk Australia's coveted AAA credit rating with the inconclusive result of weekend elections seen as bad news for the economy and investment markets. A final outcome from the polls won't be known for days, if not weeks, with millions of postal and absentee votes still to be processed, which could prove crucial in a race too close to call. It adds to the global trend of rising political uncertainty, amid concern about Donald Trump's run for the White House and Britain's vote to leave the European Union (EU). Despite this, markets were undeterred with the benchmark ASX/200 only marginally lower at 5,235.4 in morning trade while the Aussie dollar being down by 0.4 per cent at 74.66 US cents. So far Prime Minister Malcolm Turnbull's Liberal/National coalition and the Labor opposition both have 67 seats, the Greens one and independents four, according to results from the Australian Broadcasting Corporation. That leaves 11 seats to be decided with 76 needed to rule outright in the 150-seat House of Representatives, raising the prospect of a second hung parliament in three years, where neither side can form a majority government. Instead, support would be needed from the often obstructionist minor lawmakers. A similar scenario is forecasted for the upper house Senate, which does not bode well for getting legislation passed, potentially causing policy gridlock. Economists said this could stymie efforts to rein in debt and deficits, undermining business and consumer confidence with repercussions for the economy. "Even if the coalition does win government it won't have control of the Senate with the balance of power remaining with the Greens and minority parties which will act as a huge constraint on the government," said AMP Capital chief economist Shane Oliver. "The end result will be poor prospects for getting government spending and the budget deficit under control over the next three years and for the coalition implementing its policy to cut corporate taxes let alone undertaking serious productivity enhancing economic reforms." Australia is one of only a handful of nations to hold the top AAA credit rating from all three major agencies, having dodged recession during the global financial crisis. They are yet to pass judgement on the weekend polls but Oliver said political uncertainty never boded well. "Whoever wins it means that the risk of a sovereign credit rating downgrade has increased further," he said, in a view echoed by leading independent economist Saul Eslake. "I don't know whether any of them will formally downgrade Australia's rating, or put Australia on a 'negative watch', but I wouldn't be surprised if at least one of them does," he told the Australian Financial Review. A downgrade would mirror what happened in Britain in the days after its decision to exit the EU, due to the economic uncertainties. Generally, losing a AAA rating means the nation would be forced to pay higher interest on its debt. TD Securities analyst Annette Beacher said hung parliaments had never historically been conducive to good governance and policy reform and "the risk of losing AAA/stable is not insignificant". "There is a significant probability that Australia experiences another three years of fiscal policy paralysis," she said, adding that it would leave the Reserve Bank of Australia "as the only public authority with tools to manage the business cycle". The central bank holds its monthly board meeting on Tuesday. With rates already at a historic low of 1.75 per cent, most economists do not expect it to intervene again just yet. But they see a possibility of a cut to 1.5 per cent in August should official inflation figures continue to point to benign price pressures, a sign of a flagging economy. (AFP)

Australia may risk its AAA credit rating over possible hung Parliament

Aaa, News on Aaa, stories on Aaa, articles on Aaa, Aaa stories at Wion, Aaa news, Aaa latest news

aaa

Fitch downgrades US credit ratings from AAA to AA+, Biden admin calls move ‘arbitrary’

GTA 6 gameplay videos leaked. Shows city location and the new protagonists

Australia may risk its AAA credit rating over possible hung Parliament