Bank of England warns the UK will fall into recession this year
The Bank of England warns inflation will rise over 13% and the economy is set to shrink for over a year….
“I know that they will feel, ‘Well, why have you raised interest rates today, doesn’t that make it worse from that perspective in terms of consumption?’, I’m afraid my answer to that is, it doesn’t because I’m afraid the alternative is even worse in terms of persistent inflation.”
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