Foreign Investors Dump UK Gilts at Record Rate Despite Austerity
- Bank of England data shows selloff continues for third month
- Figures add to concerns about the pound and borrowing costs
Rishi Sunak
Photographer: Niklas Halle'n/AFP/Getty ImagesThis article is for subscribers only.
Foreign investors sold off UK government bonds at the fastest pace on record over the three months to November despite the Prime Minister Rishi Sunak’s efforts to stabilize the economy after a disastrous September fiscal plan.
Figures from the Bank of England show that overseas investors sold a total of £38.4 billion of government debt between September and November, renewing concerns about the weak pound and rising borrowing costs.