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Government borrowing costs jump on reports of Reeves dropping income tax rise
Reuters UK government borrowing costs have risen in reaction to reports the chancellor will not increase income tax in the upcoming Budget. The interest rate on 10-year government bonds, known as the yield, jumped to 5.56% from 5.44%, indicating the cost to government if it chose to borrow over this length of time. The jump…
Federal court blocks Trump from sacking Lisa Cook
US President Donald Trump cannot oust Federal Reserve governor Lisa Cook from her role, a federal appeals court has ruled. The 2-1 ruling on Monday is a blow to Trump as it means Cook can now stay in place for the Fed’s policy meeting on Tuesday and Wednesday, where it is expected to cut US…
