One-year dated bonds meanwhile climbed to more than 4.5 per cent, the highest level since 2008, as traders bet on more interest rate increases to come. Already this week, Government figures showed a sharp rise in company insolvencies, which are at their highest level since records began in 2019. And he is under consistent pressure from Conservative MPs, unhappy that the UK tax burden is heading for its highest level since the Second World War, to cut taxes. There was not even much cheer from the pound in the face of yesterday’s inflation figures. Sterling was up by as much as half a cent in yesterday’s session but later gave up most of its gains.

Source: Daily Mail April 20, 2023 19:06 UTC