UK’s long-term borrowing costs hit highest level since 1998

The UK government’s long-term borrowing costs have hit their highest level since 1998, amid rising fuel prices and concerns about political stability. The yield – effectively the interest rate – on 30-year UK government bonds (gilts) hit 5.76% at lunchtime on Tuesday, up 0.11 percentage points – exceeding the 27-year high reached last autumn. …