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Public finances

UK borrowing jumps to £23.3bn as finance warning grows

Official figures showed May borrowing came in well above forecast, with debt interest costs hitting their highest level recorded for the month

Central banks ECB and Bank of England expected to hold rates as inflation shock clouds outlook The Iran war has lifted energy prices and revived stagflation concerns, but economists expect both central banks to wait for clearer evidence before tightening again Apr 29, 2026