In Focus: Fixed income  

'A chilling repeat of a dismal day' as pound plunges on recession fears

The Monetary Policy Committee’s next interest rates decision is set for September 22, having been postponed in the wake of HM The Queen's death last week. The base rate currently stands at 1.75 per cent and was expected to be hiked further.

The yield of the UK 10-year gilt stood at 3.16 per cent on Friday, an 11-year high though not high by historic standards, while the 2-year gilt yielded 3.12 per cent, close to its 14-year high seen in May this year.

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