UK 30-year bond yield 5.40% since March 1998 tops G-7
Business
The U.K.'s 30-year bond yield just climbed to 5.40%, a level not seen since March 1998.
This spike is part of a global trend, with rising oil prices and talk of more interest rate hikes making it pricier for the government to borrow money.
Compared to other big economies, the UK now faces the steepest borrowing costs in the G-7.
Household bills could jump 25% January
Soaring energy prices mean household bills could jump by 25% in January.
Inflation is projected to be above 3%, and there's talk of more rate hikes ahead.
All this comes as government spending and debt are set to keep climbing for years to come.