Surge in UK borrowing costs is not a repeat of the 'mini-budget' crisis, economists say
Publishing timestamp: 2024-11-01 11:40:48
Summary
U.K. borrowing costs have risen after Labour government announced a large package of borrowing and tax rises in its budget. Analysts are downplaying concerns of a second "mini-budget" crisis, but there are worries about inflation, interest rate cuts, economic growth, and fiscal deficits. The market remains on edge, with bond yields elevated and the British pound initially declining. Investors are also watching U.S. markets for cues.
Sentiment: MIXED
Keywords: markets, british 2 year gilt, central banking, business news, breaking news: markets, british 10 year gilt,