A Budget-day borrowing blow for Chancellor George Osborne yesterday underlined the scale of his deficit-cutting task despite slightly better news on growth from his independent forecaster.

People living in private rented accommodation who pay their rent on time could soon get a boost to their credit rating, following the launch of the Rental Exchange service by Experian.

Your credit report is a vital part of your financial integrity. The decisions you make and actions you take will have a direct impact on your credit rating and influence the outcome of loan, credit card or mortgage applications.

Outlook Did George Osborne just get a little bit of breathing room? Yesterday's public sector borrowing figures contained some welcome news for the Chancellor. January is traditionally a month in which the Government pays back a bit of what it owes, but the £7.75bn returned to creditors this time around was better than most forecasters had expected and well ahead of the £5.2bn surplus recorded in January 2011.

The shadow Chancellor claims that Moody's decision to place Britain's triple-A credit rating on "negative outlook" proves that the Government is cutting too far, too fast. Meanwhile, George Osborne insists that the agency's warning shot – suggesting a one-in-three chance of a downgrade to come – is a "reality check" that reinforces his commitment to cutting national debt.

Chancellor George Osborne defended the Government's austerity package today after Britain was threatened with the loss of its AAA credit rating amid fears over weaker growth prospects and potential shocks from the eurozone crisis.

It was all too good to be true.

Outlook There is confusion over exactly what the Securities and Exchange Commission is investigating in relation to the downgrading of the US by credit ratings agency Standard & Poor's (and no one will say on the record). Some reportssuggest the SEC is conducting an insider dealing inquiry. Others think the regulator is looking into the decision itself.

Credit rating agency Standard & Poor's said today it had downgraded the United States' credit rating for the first time in the history of the ratings.

In one place for your convenience, the current positions of the three main credit rating agencies on long-term US government debt.