LONDON, UNITED KINGDOM – MARCH 26, 2025: Britain’s Chancellor of the Exchequer Rachel Reeves leaves 11 Downing Street ahead of the announcement of the Spring Statement in the House of Commons in London, United Kingdom on March 26, 2025. (Photo credit should read Wiktor Szymanowicz/Future Publishing via Getty Images)
Wiktor Szymanowicz | Future Publishing | Getty Images
U.K. government borrowing costs fell on Wednesday after the country’s Office for Budget Responsibility unexpectedly released its economic and fiscal forecasts ahead of the Autumn Budget.
Yields on the benchmark 10-year gilt were last seen 2 basis points lower at 4.48%, after falling as much 4 basis points following the release.
The OBR was scheduled to publish its forecasts following the budget, which Finance Minister Rachel Reeves will deliver in parliament at 12:30 p.m. London time (7:30 a.m. ET).
A spokesperson for the OBR was not immediately available for comment.
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