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Deficit rises unexpectedly to £14.3bn in February as stock markets slide amid fears that Iran war will escalate
UK government borrowing costs have reached their highest level since 2008, while financial markets now expect up to three interest rate rises this year as investors digest the impact of the Iran conflict.
The yield, or interest rate, on 10-year borrowing was pushed to heights not seen since the global financial crisis, as investors dumped UK government bonds.
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