UK bond yields soar as investors brace for interest rate rise; China’s growth slows – as it happened

Rolling coverage of the latest economic and financial news

• Latest: UK two-year gilt yields highest since 2019
• Goldman expects three hikes by May 2022
• Governor Andrew Bailey hints at rate rise

Earlier:

• China's growth slowed to 4.9% over last year
• Full story: Power cuts, property woes and Covid take toll
• End to China's estate market boom could spell trouble for the economy

The trade body for British manufacturers has hit back at ministers' accusations that firms have relied for too long on cheap foreign labour, urging them to work in partnership with business instead of viewing it as the enemy within".

Make UK is calling on the government to recognise the challenges they are facing - including supply chain disruption and shortages of staff such as HGV drivers - rather than blaming them at a time when they are also facing soaring costs, including for energy and raw materials.