UK’s long-term borrowing costs hit highest level since 1998
Rise in bond yields due to fuel prices and political stability concerns will eat away at Rachel Reeves’s fiscal headroom
The UK government’s long-term borrowing costs have hit their highest level since 1998, amid rising fuel prices and concerns about political stability.
The yield – effectively the interest rate – on 30-year UK government bonds (gilts) hit 5.76% at lunchtime on Tuesday, up 0.11 percentage points – exceeding the 27-year high reached last autumn. Continue reading...
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