UK May Witness Longest Recession Since Records Began, Warns Bank of England
Bank of England warned that UK might witness its most profound crisis, as it said that the country’s economy is shrinking pointing to start of recession.
Bank of England warned that UK might witness its most profound crisis, as it said that the country’s economy is shrinking pointing to start of recession. The Bank of England has announced their biggest interest rate hike since 1989 in order to combat surging inflation in the country. The BoE has also warned that this measure will put the country into recession that will last till the mid of 2024.Â
Recession in UK?
Bank of England expects the UK recession to be the longest since records began in the 1920s and said unemployment will almost double.https://t.co/Be1MRqZPYT
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(The above story first appeared on LatestLY on Nov 11, 2022 03:57 PM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).
