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BoE Chief Blames Budget and US Election for UK's Borrowing Rate Surge

2 hours ago

BoE Chief Blames Budget and US Election for UK's Borrowing Rate Surge

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7 Highlights

BoE's Bailey links UK rate hike to budget plans, US elections.
Reeves' tax plans partly blamed for rising UK debt costs.
- Trump's tariff threats add uncertainty, but Bailey sees no extreme risk.
- Bailey urges dialogue with new US administration on economic issues.
- Financial markets respond to political shifts in US and UK.
- Bailey advises gradual interest rate changes to measure impacts.
- UK-EU relations key despite post-Brexit financial service resilience.

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