Bank of England hikes interest rates and warns UK to enter recession with inflation to pass 13% – business live

  • 📰 GuardianAus
  • ⏱ Reading Time:
  • 18 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 10%
  • Publisher: 98%

Business Business Headlines News

Business Business Latest News,Business Business Headlines

Interest rates rise to 1.75% – the biggest jump in 27 years – as BoE warns UK faces long recession as high gas prices hit households

The looming UK recession shows that the government has lost control of the economy, says R“This is further proof that the Conservatives have lost control of the economy, with skyrocketing inflation set to continue, while mortgage and borrowing rates continue to rise.

“Labour would help households right now by removing the tax breaks that are subsidising oil and gas producers and using that money to help people now, including by cutting VAT on energy bills. “Along with many other countries the UK is facing global economic challenges and I know that these forecasts will be concerning for many people.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 1. in BUSİNESS

Business Business Latest News, Business Business Headlines