UK borrowing costs driven up, adding to challenges facing John Healey as he prepares for first budget
The global government bond sell-off resumed on Wednesday, driving up the UK’s borrowing costs and exacerbating the challenges facing John Healey as he prepares his first budget.
The yield – effectively the interest rate – on 10-year UK government bonds, or gilts, jumped to just below 5.3% in early trading: its highest level since mid-2008.
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This article was originally published by The Guardian and written by Heather Stewart Economics editor.
Read original article on The Guardian