Business · 19 August 2026

UK long-term borrowing costs hit new high on inflation fears

Long-term borrowing costs in the UK reached 5.85% on Tuesday, the highest since June 2007, as investors worry about inflation. Rising oil prices are a main reason for the surge, with Brent crude surpassing $90 a barrel following Middle East tensions. Higher borrowing costs could mean higher mortgage rates for consumers and companies.

By BriefTea Editorial · 19 August 2026 at 8:31

Reported by BBC · How we write briefs