UK borrowing costs hit highest levels since September market chaos

Yield on 10-year government bonds rises above 4.5% despite Bank of England trying to quell jitters

UK government borrowing costs have risen to the highest levels since the financial market chaos triggered by Kwasi Kwarteng's mini-budget in September, despite renewed efforts by the Bank of England to smooth over the turmoil.

The yield - or interest rate - on 10-year UK government bonds rose above 4.5% in afternoon trading on Monday, returning to the levels last seen two weeks ago, before the central bank intervened after the chancellor's poorly received tax and spending statement.