Pound falls to lowest in over a year after UK borrowing costs rise
The pound has fallen to its lowest level in over a year, while UK borrowing costs hit their highest for 16 years. Economists have warned that the rising costs could lead to further tax increases or spending cuts as the government tries to meet its self-imposed rule not to borrow to fund day-to-day spending.
Live Q&A: Why UK Borrowing Costs Are Soaring and What’s Next
UK borrowing costs have surged in recent days, with 30-year inflation-linked rates hitting 2% for the first time since the Truss-era crisis in 2022. Bloomberg's Rachel Evans, Tom Rees and James Hirai will discuss these moves and their impact on markets,
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