UK interest rates may not rise as much as market expects, says Bank of England’s Broadbent – business live

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Deputy governor says big increases in interest rates priced in by markets would deliver a “pretty material” hit to the economy.After three days of falls, the interest rate on UK 10-year government bonds has risen close to 4% this morning, as the bond market watched the turmoil in Westminster.This chart shows how 10-year gilt yields had already been climbing through September, but then surged after the mini-budget as investors were alarmed by unfunded tax cuts. Continue reading... ...

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