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Investing.com -- Bank of England Governor Andrew Bailey stated on Tuesday that the increase in British government borrowing costs aligns with similar rises observed internationally.
"We have seen steepening of yield curves going on now," Bailey told lawmakers during a session with parliament’s Treasury Committee.
Bailey emphasized that this trend is not unique to the United Kingdom (TADAWUL:4280). "It’s not in any sense unique to this country. In fact, the pattern in this country is not in any sense out of line with what we’ve seen in other markets, and we’ve seen steeper increases in some other markets," he said.
According to Bailey, the rising borrowing costs stem from concerns about global trade impacts from trade policy decisions and uncertainty surrounding fiscal policy.
The governor’s comments come amid a backdrop of U.S. President Donald Trump’s implementation of tariffs on various imported goods. Trump has also secured Congressional approval for tax cuts that analysts predict will increase U.S. public debt.
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