Shafaqna English– The British government on Tuesday sold £4.25 billion worth of 30-year bonds at the highest yield since comparable records began in 1998.
This unprecedented rise in borrowing costs comes at a critical time as new finance minister John Healey prepares to draft his first budget, casting a heavy shadow over his fiscal plans. Globally, the UK ranks second among major advanced economies in terms of government borrowing costs, trailing only Australia.
Last week, global inflation concerns fueled by the U.S.-Iran war pushed 30-year gilt yields to their highest level since early 1998, underscoring how deeply vulnerable UK financial markets are to geopolitical tensions and inflationary pressures.
Source: Reuters
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