UK borrowing costs reach highest since 1998 at 5.22%, stressing Chancellor Reeves and the economy.

UK long-term borrowing costs have hit their highest levels since 1998, rising to 5.22%, adding financial pressure on Chancellor Rachel Reeves. This increase, driven by concerns over stagflation and global bond market sell-offs, could affect the UK economy and public spending plans. The Bank of England is also set to reduce its balance sheet through quantitative tightening.

3 months ago
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