UK borrowing costs hit 18-year high as pound falls amid Labour leadership turmoil
UK government borrowing costs rose to a new 18-year high on Friday as the pound weakened, with markets reacting to the latest twist in the Labour leadership battle involving Andy Burnham.The 10-year gilt yield rose above 5.14% at one point, its highest level since 2008.The pound fell 0.3% against the dollar to around $1.337, and was 1.5% lower over the week.Long-term borrowing costs also moved higher, with the yield on 30-year gilts reaching a peak of 5.82%.Analysts said UK moves were larger than those seen in other European government bond markets.The market reaction matters because higher gilt yields can raise... [Continue Reading]
360LiveNews | 15 May 2026 13:31 LONDON
