UK government borrowings costs surge ahead of rival countries

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The story "UK government borrowings costs surge ahead of rival countries" was covered 22 hours ago by Financial Times, a news publisher based in United States.

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Financial Times 22h ago

UK government borrowings costs surge ahead of rival countries - Financial Times

Quick Summary:

Economists are also wary that UK interest rates will remain elevated while the economy remains resilient.

The yield on 10-year gilts rose to more than 4 per cent this week, pushing the gap between benchmark UK and US borrowing costs to 0.18 percentage points.

The strong performance of US Treasuries comes after Fed chair Jay Powell said at a summit last week that the “time has come” for US rate cuts while Andrew Bailey, BoE governor, warned it was “too early to declare victory over inflation” in Britain.