Britain's borrowing costs rise to highest level since 2008 as fears rocket over higher oil prices

GB News 01 Sep United Kingdom

The UK’s borrowing costs have climbed to their highest level in almost two decades as fears rocket over rising oil prices that could keep interest rates elevated. The yield on the benchmark 10-year government bonds, or gilts, rose seven basis points to 5.223 per cent today – its highest level since June 2008. Bond yields rise when prices fall, indicating a sharp sell-off in government debt. Longer

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