Tag: pound
Starmer has ‘full confidence’ in Reeves as pound falls
Prime Minister Sir Keir Starmer has said he has “full confidence” in Chancellor Rachel Reeves as she faces criticism over the falling pound and rising government borrowing costs. The pound fell to $1.21 on Monday, its lowest level since November 2023, while one measure of the rate at which the government can borrow money hit…
Pound falls as borrowing costs rise to highest since 2008
The pound has fallen to its lowest level for nine months after UK government borrowing costs continued to rise. The drop came as UK 10-year borrowing costs surged to their highest level since the 2008 financial crisis when bank borrowing almost ground to a halt. Economists have warned the rising costs could lead to further…