UK borrowing costs climb as ‘stagflation’ fear stalks gilt market

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Financial Times 14h ago

UK borrowing costs climb as ‘stagflation’ fear stalks gilt market - Financial Times

Quick Summary:

He added that investors were also “a little on edge” over the scale of the Labour government’s plans for borrowing, which could increase further if weak growth held back tax receipts.

Those measures will add 0.75 percentage points to GDP and around 0.5 percentage points to consumer price inflation in about a year’s time, according to the BoE’s latest set of forecasts last month.

The recent increase in yields from less than 4.2 per cent two weeks ago has come as traders bet the BoE will now make just two quarter-point cuts next year, down from four expected in October.