S&P calls UK borrowing cost jump a "concern", but no immediate hit to rating
S&P Global called the recent jump in Britain's bond market borrowing costs a "concern" on Friday, though said it wasn't severe enough yet to have an immediate impact on the country's AA credit rating. S&P, which has a 'stable' outlook on its UK rating, said though the fiscal position was "constrained", it remained "manageable and the recent rise in cost of financing does not have immediate implications on our sovereign ratings". "The degree of volatility in interest expenditure for the UK is a concern", however, it added, highlighting that a 100 basis point rise in the cost of new financing increases the cost of interest payments for the government by 0.4-0.5 percentage points of GDP over a 12-month period.
Read more: S&P calls UK borrowing cost jump a "concern", but no immediate hit to rating
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