UK borrowing costs ease as bond market calms

UK government long-term borrowing costs have eased after reaching their highest level since 1998 earlier in the week.The interest rate on 30-year government bonds, known as the yield, slipped to 5.55%, dropping from a high of 5.75% on Wednesday.Although bond yields have been rising globally, there have also been market concerns about UK government finances.However, Bank of England governor Andrew Bailey said on…