LONDON, March 26 (Reuters) -

British government bond yields rose on Wednesday after

Finance Minister Rachel Reeves announced spending cuts and lower

growth forecasts in a fiscal statement, while the pound held

steady.

Britain's 10-year government bond yield was last

up 1 basis point (bps) at 4.764%, from around 4.735% before the

statement.

Sterling last traded 0.4% lower at $1.289, little

changed from the morning session.

Reeves' spending cuts were partly aimed at calming a jittery

bond market where 10-year bond yields - a reflection of

government borrowing costs - jumped to their highest since 2008

in January near 5%.

Britain's FTSE 100 stock index held a fraction

higher and was last up 0.2%, while broader European stocks

were roughly 0.5% lower.