UK pays highest 30-year bond rate since 1998 as fiscal pressures mount
The Treasury paid 5.82% interest on a £4bn bond sale, the steepest rate in over 25 years, threatening to erode the chancellor's budget headroom.
The UK government was forced to pay the highest interest rate on a 30-year bond since 1998 on Tuesday, according to The Guardian. The Treasury paid 5.82% to borrow £4bn, reflecting a global bond market sell-off that has driven up yields across major economies.
The elevated borrowing costs present a challenge to Chancellor John Healey, potentially wiping out at least half of the £24bn fiscal headroom he had anticipated for his budget.
Sources
- UK government pays highest interest rate on 30-year bond since 1998 — The Guardian — World
EGazette summarizes reporting from multiple sources; follow the links for the originals.
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