Lan Fo'an

Jan 11, 2025 | dailybusinessgroup.co.uk | Terry Murden |Rachel Reeves |Lan Fo'an

Chancellor Rachel Reeves has been forced to defend her trip to China as she came under pressure to deal with the turmoil on the financial markets. Her arrival in Beijing coincided with another fall in the pound against the dollar as the cost of government borrowing hit a 27-year high. Investors have become nervous about the UK’s finances and sent bond yields soaring. The 30-year gilt yield hit 5.25% — its highest point since the 2008 financial crisis.