UK borrowing hits higher than expected £24.3bn in April; retail sales drop as drivers cut back on fuel - business live
Rolling coverage of the latest economic and financial news
UK gilt yields are falling this morning, as investors digest the latest public borrowing figures against a fragile economic backdrop.
The yield on the 10-year gilt is down 0.04 percentage points to 4.93%, while the two-year gilt is down 0.02 percentage points to 4.34%.
Inflation has just fallen, growth is to the top of the G7. I think you’ll find our fiscal rules are having a positive impact on the fundamentals of our economy right now.
It is very hard as a country… to get a grip back on our reputation around the world. Because the bond markets are global, they’re not just domestic and they’re looking at us compared to other countries, and it takes a long time to get a grip back on the reputation. Continue reading...
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