UK may witness longest recession since records began, warns Bank of England
Shortpedia
Content Team
Image Credit: leicestermercury
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.
