UK borrowing costs soar day after Labour government unveiled tax-raising budget
Publishing timestamp: 2024-10-31 14:15:00
Summary
U.K. bond yields spiked after Labour Party unveiled budget with tax hikes and increased borrowing. Analysts predict mild inflationary impact and potential slower pace of interest rate cuts by Bank of England. Market reaction influenced by strong European data and U.S. political developments.
Sentiment: MIXED
Keywords: business news, british 2 year gilt, british 10 year gilt, markets, ftse 100, breaking news: europe, breaking news: markets,
Source: https://www.cnbc.com/2024/10/31/uk-borrowing-costs-soar-day-after-labours-tax-raising-budget-.html