10/10/2022
France says it will spend €100 billion to protect citizens from inflation
The cost of long-term borrowing for the Government rose to its highest level since the Bank of England launched its £65bn pension bailout, as analysts warned the jump signalled further market turmoil could be on the cards.
Yields on 30-year gilts rose above 4.5pc, bringing them to their highest since going over 5pc just before the Bank’s intervention on 28 September. 10-year gilt yields also rose by 2.5 basis points at 4.25pc.
The surge in borrowing costs came as the Bank announced it will ramp up its market intervention before it closes on Friday.
It will also launch a scheme to provide liquidity to banks whose clients are struggling with sudden cash calls.
Full Link (Telegraph) Here
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