US long-term borrowing costs hit 25-year high; weakening of UK’s EV sales targets criticised – business live

US long-term borrowing costs have reached a 25-year high after the government sold 30-year bonds at the highest interest rate since 2001. This increase in borrowing costs means the US will have to pay more to borrow money, which could lead to higher interest rates for consumers and businesses, potentially slowing down economic growth. The rise in borrowing costs is a concern for the economy, as it may lead to reduced consumer spending and investment.

Why it matters

US long-term borrowing costs have reached a 25-year high, which could lead to increased costs for businesses and consumers. The weakening of the UK's EV sales targets may also impact the automotive industry.

Market impact

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