UK 10-year gilt yields rise to highest since 2008 as markets price in 4 BoE hikes

LONDON, March 23 (Reuters) - ​British ⁠10-year government bond yields ​rose on Monday to their highest ​since July ‌2008 at 5.065%, up 6 ⁠basis points on the ⁠day, as ​markets priced in four Bank of England interest rate rises for this year.

The ​rise ‌in 10-year British government borrowing costs was sharper than for German or U.S. bonds, ​which were up 2-3 bps.

Two-year gilt ‌yields rose 6 bps from Friday's close to 4.639%, ‌pushing past a peak set in January 2025 to their highest since ​February 2024, while 30-year gilt yields rose ‌as much as 6 bps to 5.637%, their highest since September 2025.

Interest ⁠rate ⁠futures at 0811 ‌GMT were pricing in 98 bps of BoE ​rate ​rises by the ‌time of the BoE's December 17 rate decision. (Reporting by David Milliken; Editing by Kate Holton)