Bank of England Decision Day: Gilt Rout and Surging Energy Costs Squeeze UK Households From Both Sides

The 30-year gilt yield has spiked to nearly 6% — its highest since 1997 — as bond markets price in a punishing cycle of rate hikes that could push Bank rate from 3.75% to 4.75% within a year, squeezing every mortgage holder in Britain.

Money Moves

• Inflation hits 3.1% — The August CPI rose from 2.9%, driven by motor fuel prices jumping 23% year-on-year to 161.3p per litre, the highest since November 2022 when Russia's Ukraine invasion...