Government debt

Prime Minister Rishi Sunak, left, alongside the Chancellor of the Exchequer, Jeremy Hunt, second from left, holds his first Cabinet meeting in Downing street, Wednesday, Oct. 26, 2022. (Stefan Rousseau/Pool photo via AP)

UK Treasury chief delays detailing new economic plans

UK Treasury Chief Jeremy Hunt has delayed his much-anticipated economic statement until Nov. 17. The move Wednesday gives the new government of Prime Minister Rishi Sunak a chance to weigh in on policies meant to stabilize the country’s finances after his predecessor’s tax-cutting plans triggered ma

View of the Bank of England in London, Wednesday, Sept. 28, 2022. The Bank of England has launched a temporary bond-buying programme as it takes emergency action to prevent "material risk" to UK financial stability.(AP Photo/Frank Augstein)

UK central bank intervenes in market to halt economic crisis

In this photo provided by UK Parliament, Britain's Prime Minister Liz Truss, second left, and Chancellor Kwasi Kwarteng, third left, are seen in the House of Commons in London, Friday, Sept. 23, 2022. Britain’s new government on Friday announced a sweeping plan of tax cuts it said would be funded by borrowing and revenues generated by anticipated growth, as part of contentious moves to combat the cost-of-living crisis and bolster a faltering economy. (Jessica Taylor/UK Parliament via AP)

Economic storm tests UK’s new leader, alarms Conservatives

Christine Lagarde, European Central Bank President explains the Governing Council's monetary policy decisions during a press conference in Amsterdam, Netherlands, Thursday, June 9, 2022. The European Central Bank said it would carry out its first interest rate increase in 11 years in July, followed by another hike in September. The bank made the surprise move Thursday, saying that inflation had become a "major challenge" and that inflationary forces had "broadened and intensified." (AP Photo/Peter Dejong)

European Central Bank vows backstop against market turmoil

FILE - People walk past a currency exchange office screen displaying the exchange rates of U.S. Dollar and Euro to Russian Rubles in Moscow's downtown, Russia, Monday, Feb. 28, 2022. Russia's central bank cautiously reopened bond trading on the Moscow exchange Monday, March 21, 2022 for the first time since the country invaded Ukraine, with the price of Russia’s ruble-denominated government debt falling and sending borrowing costs higher. (AP Photo/Pavel Golovkin, File)

Russian bond trading resumes for 1st time since Ukraine war

Moody’s downgrades Mexican government’s debt rating

MEXICO CITY (AP) — Moody’s Investors Service downgraded Mexican government debt Friday from Baa1 to Baa2, citing concerns about debt servicing costs and Mexico’s support for the state-owned oil company.

FILE - A food delivery man leaves an exchange office with screen showing the currency exchange rates of U.S. Dollar and Euro to Russian Rubles in Moscow, Russia, Feb. 24, 2022. (AP Photo, File)

Russia says it transferred bond payment to avoid default

Russia’s Finance Ministry said it transferred a $117 million bond interest payment in an attempt to avoid a default on government debt but left it open if the money actually reached foreign investors by the deadline.

FILE - A woman crosses a road outside the Bank of England, in the financial district, known as The City, in London, Dec. 13, 2021. The Bank of England is expected to raise interest rates again Thursday, Jan. 3, 2022, putting the United Kingdom far ahead of the rest of Europe and the U.S. in moving to tame surging inflation that is squeezing consumers and businesses.(AP Photo/Alberto Pezzali, File)

Bank of England hikes interest rates again as prices surge

The Bank of England has raised interest rates for the second time in three months. That decision Thursday puts the United Kingdom far ahead of the rest of Europe and the U.S. in moving to tame surging inflation that’s squeezing consumers and businesses.

Treasury Secretary Janet Yellen listens as President Joe Biden speaks during a meeting with business leaders about the debt limit in the South Court Auditorium on the White House campus, Wednesday, Oct. 6, 2021, in Washington. The Treasury Department said Wednesday it plans to start scaling back the size of some of its government debt auctions, a sign that the government’s huge pandemic-driven borrowing needs are starting to ease. (AP Photo/Evan Vucci)

Treasury to trim debt auctions that accelerated in pandemic

The U.S. Treasury Department plans to start scaling back the size of some of its government debt auctions, a sign that the government’s huge pandemic-driven borrowing needs are starting to ease.

Fitch lowers its outlook on US credit rating to ‘negative’

WASHINGTON (AP) — Fitch has lowered the outlook for its U.S. government credit rating to “negative” from “stable” due to soaring budget deficits, but the agency is keeping its overall rating at the highest AAA level.

This Sept. 18, 2019 photo shows the U.S. Treasury Department building viewed from the Washington Monument in Washington. The Treasury Department says it will need to borrow a record $2.99 trillion during the current April-June quarter to cover the cost of various rescue efforts dealing with the coronavirus pandemic. Treasury said Monday, May 4, 2020 that the $2.99 trillion it plans to borrow this quarter will far surpass the $530 billion quarterly borrowing it did in the July-September 2008 quarter as it dealt with the 2008 financial crisis. The extraordinary sum of $2.99 trillion of borrowing in a single quarter dwarfs the $1.28 trillion the government borrowed in the bond market for all of 2019. (AP Photo/Patrick Semansky)

As US piles up debt to aid economy, even usual critics cheer

WASHINGTON (AP) — The U.S. government has opened the spigots and let loose nearly $3 trillion to try to rescue the economy from the coronavirus outbreak — a river of debt that would have been unthinkable even a few months ago.

A man walks past an electronic board showing Hong Kong share index outside a local bank in Hong Kong, Friday, March 6, 2020. Asian shares are falling as fears about the virus outbreak once again dominate financial markets. (AP Photo/Kin Cheung)

Global markets slide further on pessimism over virus impact

TOKYO (AP) — World stocks and the price of oil dropped sharply again Friday as pessimism prevailed over hopes for central bank action to counter the economic disruption from the virus outbreak.

FILE - In this Saturday, July 7, 2018, file photo, whiskeys distilled and bottled in the U.S. are displayed for sale in a grocery store in Beijing. China’s options to retaliate in an escalating trade dispute with Washington go beyond matching U.S. tariff hikes to targeting American companies and government debt. Its state-dominated economy gives regulators tools to hamper sales of engineering, shipping and other services _ an area in which the United States runs a trade surplus _ and to disrupt operations for automakers, restaurant chains and other American businesses in China. (AP Photo/Mark Schiefelbein, File)

How China could hurt US once it ran out of imports to tax

BEIJING (AP) — In his trade war with China, President Donald Trump wields one seeming advantage: The United States could ultimately slap tariffs on more than $500 billion in imported Chinese goods.

Fitch upgrades Greece’s credit rating

ATHENS, Greece (AP) — Debt-hobbled Greece got a new morale boost Tuesday, with Fitch ratings agency upgrading its sovereign credit grade, a day after the country’s European creditors backed the release of a new rescue loan payment.