UK Borrowing Costs Rise as Bank of England’s Bond-Buying Programme Nears End

A member of the public walks past the Bank of England in London on Oct. 03, 2022. Dan Kitwood/Getty Images

The cost of UK government borrowing rose again on Wednesday as the Bank of England (BoE) confirms it will stop buying gilts on Friday as previously announced.

The 20-year gilt yield—the return investors get from UK government bonds—rose above 5 percent for the first time since Sept. 28, and the 30-year gilt yield also passed 5 percent on Wednesday morning.