Markets ‘orderly’ despite soaring borrowing costs, says Treasury minister
==========
UK financial markets are described as functioning 'in an orderly way' despite the pound falling nearly 1% to just under 1.23 US dollars, its lowest since November 2023; Government borrowing costs increased, with 10-year gilt yields rising to 4.89%, the highest since 2008; 30-year gilt yields peaked at 5.39%, the highest since 1998; Treasury Minister Darren Jones stated fiscal rules are 'non-negotiable' and warned public services must live within their means; economists predict Chancellor Rachel Reeves may need to raise taxes or cut spending due to rising debt interest costs; the FTSE 250 stock index hit its weakest level in nine months; concerns over stagflation and global bond sell-offs are impacting UK markets; the Chancellor is expected to focus on spending cuts in her upcoming speech.
#Uk #Finance #Government #Borrowing #Pound #Gilt #Chancellor #DarrenJones #RachelReeves #Economy
https://www.expressandstar.com/uk-news/2025/01/09/markets-orderly-despite-soaring-borrowing-costs-says-treasury-minister/
Express & Star /
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2025-01-09 12:56:41
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wss://relay.damus.ioPublished at
2025-01-09 12:56:41Event JSON
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"content": "Markets ‘orderly’ despite soaring borrowing costs, says Treasury minister\n==========\n\nUK financial markets are described as functioning 'in an orderly way' despite the pound falling nearly 1% to just under 1.23 US dollars, its lowest since November 2023; Government borrowing costs increased, with 10-year gilt yields rising to 4.89%, the highest since 2008; 30-year gilt yields peaked at 5.39%, the highest since 1998; Treasury Minister Darren Jones stated fiscal rules are 'non-negotiable' and warned public services must live within their means; economists predict Chancellor Rachel Reeves may need to raise taxes or cut spending due to rising debt interest costs; the FTSE 250 stock index hit its weakest level in nine months; concerns over stagflation and global bond sell-offs are impacting UK markets; the Chancellor is expected to focus on spending cuts in her upcoming speech.\n\n#Uk #Finance #Government #Borrowing #Pound #Gilt #Chancellor #DarrenJones #RachelReeves #Economy\n\nhttps://www.expressandstar.com/uk-news/2025/01/09/markets-orderly-despite-soaring-borrowing-costs-says-treasury-minister/",
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