UK gas storage levels are ‘concerningly low’; bond sell-off expected to hurt growth – business live
Rolling coverage of the latest economic and financial newsUK debt market sell-off threatens to push up mortgage costsCuts, tax rises and doing nothing: Rachel Reeves’ options to tackle economic woeWhat the bond market turmoil means for your mortgage, pension and savingsLisa Nandy, the UK culture secretary, has tried to provide some reassurance about rising gilt yields this morning.She told BBC Radio 4’s Today programme:“This is a global trend that we’ve seen affecting economies all over the world. Rates rise and fall.We’ve seen it, most notably in the United States, but we are confident that we’re taking both the short term action to stabilise the economy, but also the long term action that is necessary to get the economy growing again.”“I don’t think we should be worried... We are still on track to be the fastest growing economy, according to the OECD, in Europe.”There remains clear concern over the likelihood that all of the Chancellor’s fiscal headroom has now been eaten up by the sell-off in Gilts, and the anaemic nature of UK economic growth. Continue reading...
Rolling coverage of the latest economic and financial news
- UK debt market sell-off threatens to push up mortgage costs
- Cuts, tax rises and doing nothing: Rachel Reeves’ options to tackle economic woe
- What the bond market turmoil means for your mortgage, pension and savings
Lisa Nandy, the UK culture secretary, has tried to provide some reassurance about rising gilt yields this morning.
She told BBC Radio 4’s Today programme:
“This is a global trend that we’ve seen affecting economies all over the world. Rates rise and fall.
We’ve seen it, most notably in the United States, but we are confident that we’re taking both the short term action to stabilise the economy, but also the long term action that is necessary to get the economy growing again.”
“I don’t think we should be worried... We are still on track to be the fastest growing economy, according to the OECD, in Europe.”
There remains clear concern over the likelihood that all of the Chancellor’s fiscal headroom has now been eaten up by the sell-off in Gilts, and the anaemic nature of UK economic growth. Continue reading...
What's Your Reaction?
