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Evening Standard

Henry Saker-Clark

Pound slumps as government borrowing costs highest since 2008

Rachel Reeves United Kingdom DMO US Treasury

The rise in government borrowing costs presents a challenge for Chancellor Rachel Reeves (Dan Kitwood/PA) - (PA Wire)

The value of the pound slid to its lowest level for nine months after government borrowing costs surged further.

It comes during a continued sell-off in the bond market amid investor concerns over the threat of stagflation and a fresh barrage of bond sales.

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One subscription that gives you access to news from hundreds of sites

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