BOE governor Bailey: UK experience on yield curve is not out of line with other markets

July 22, 2025
-FXnews

We have seen steeper yield curves, that is a global phenomenon
Cause of steeper yield curve reflects greater uncertainty on trade policy
Steeper yield curve also reflects uncertainty on fiscal policy

It’s good that he acknowledged things on the fiscal side as well. The public sector net borrowing data earlier today showed that UK borrowing surged higher to £20.7 billion in June this year. That’s the second-highest June number on record, with only the Covid pandemic era beating it

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