Taginternational markets

UK’s cost of borrowing on international markets overtakes Greece and Italy

By Marta Lopez
In Finance
3 Min Read
U

Britain’s cost of borrowing on international money markets has jumped above the rates paid by Greece and Italy as traders priced in a higher risk of default on UK government debt. After frantic selling since Kwasi Kwarteng’s mini-budget last Friday, the five-year UK government bonds suffered a dramatic fall in value, which had the effect of doubling the interest rate on the debt since August. The...

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