FTSE 100 hits record as interest rate hopes push down UK borrowing costs

Nearly every share on the index rises as fall in value of pound helps multinational companies listed in London

Business live – latest updates

The UK’s blue-chip stock index hit a record high on Friday, as rising hopes of interest rate cuts this year drove down government borrowing costs.

Almost every share on the FTSE 100 rose on Friday, as a fall in the value of the pound boosted multinational companies listed in London and propelled the index above 8,500 points for the first time.

Topics

Reeves says she won't let critics get her down after UK borrowing costs rise

The chancellor tells the BBC she has got "what it takes" following a bumpy week for the UK economy.
BBC News - 12h
Surprise fall in inflation boosts interest rate cut hopes

Inflation falls for the first time in three months, sparking expectations rates may be cut to 4.5% in February.
BBC News - 2d
Spike in UK borrowing costs raises specter of public spending cuts

Former U.K. Finance Minister Vince Cable told CNBC on Friday that the UK was not in an "emergency panic situation," but was stuck in a low-growth trap.
CNBC - 4d
UK government borrowing costs rise towards 16-year high

Yields jump after strong US jobs data, threatening to wipe out room for extra borrowing under Labour’s budget rules
Financial Times - Jan. 10
Pound falls to lowest in over a year after UK borrowing costs rise

Economists have warned the rise could mean further tax hikes or spending cuts by the government.
BBC News - Jan. 9
UK borrowing costs rising - what does it mean for me?

Government borrowing costs have hit their highest level for several years - what does it mean for you?
BBC News - Jan. 9
UK 10-year borrowing costs hit highest level since 2008

Treasury seeks to reassure markets as gilt sell-off threatens the government’s ability to meet its fiscal rules
Financial Times - Jan. 8
Faisal Islam: Soaring UK borrowing costs are a problem for Rachel Reeves

The Chancellor may face the prospect of breaking her own Budget rules
BBC News - Jan. 7
UK long-term borrowing costs hit highest level since 1998

Rising interest costs raise fears about chancellor’s ability to hit revised fiscal rules
Financial Times - Jan. 7

More from The Guardian

Israel-Gaza ceasefire live: deal ‘only a starting point’, says Unrwa chief; full Israeli cabinet meets

Philippe Lazzarini says agency is ready to scale up aid delivery; Israeli cabinet meets to agree on deal as hardline security minister urges allies to stop it. Aid increase in ceasefire deal ‘is ...
The Guardian - 20m
TikTok hopes for Trump intervention after US supreme court upholds US ban

App will become unavailable in US on 19 January, unless Trump directs justice department not to enforce the law. US politics live – latest updates The US supreme court has issued a ruling ...
The Guardian - 3h
Trump inauguration to move indoors amid frigid temperatures in Washington – live

President-elect says festivities scheduled for his inauguration day will be held indoors – including the traditional parade. Donald Trump moves inauguration indoors due to severely cold ...
The Guardian - 28m
‘One-in-a-billion’ round egg found at farm in Devon to be auctioned

Rare spherical egg could fetch in region of £200, with proceeds of sale going to charity. A farm worker in Devon has discovered what she believes to be a “one-in-a-billion” spherical egg.. Alison ...
The Guardian - 2h
Half of new hospitals promised by Boris Johnson will not be built for decades

Exclusive: Labour to announce removal of many of 40 planned projects as costs spiral to estimated £30bn. At least half the 40 new hospitals promised by Boris Johnson will not be built until the ...
The Guardian - 1h

More in World

Bolsonaro Hid at Hungary’s Embassy. Not For Asylum, He Says, Maybe Love.

Jair Bolsonaro and a Times reporter discussed the former Brazilian president’s two mysterious nights at the Hungarian Embassy.
The New York Times - 12m
On a Raid With Syria’s New Security Forces

After the fall of the Assad regime in Syria, The New York Times joined a group of former rebel soldiers trying to enforce law and order in a country grappling with the ghosts of its past.
The New York Times - 13m
Old Friends Chrystia Freeland and Mark Carney Duel to Replace Justin Trudeau

Chrystia Freeland blew up the career of her top political ally, Justin Trudeau. Now, she is taking on an old friend, the former central banker Mark Carney.
The Wall Street Journal - 16m
Israel-Gaza ceasefire live: deal ‘only a starting point’, says Unrwa chief; full Israeli cabinet meets

Philippe Lazzarini says agency is ready to scale up aid delivery; Israeli cabinet meets to agree on deal as hardline security minister urges allies to stop it. Aid increase in ceasefire deal ‘is ...
The Guardian - 20m
Live Updates: Israeli Cabinet Takes Up Gaza Cease-Fire in Final Step to Approval

Prime Minister Benjamin Netanyahu’s office said the deal, which was approved by the security cabinet earlier Friday and is expected to get sign off from the full cabinet, could go into effect as ...
The New York Times - 26m