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Business Matters: Bank of England warns the UK will fall into recession this year

Bank of England warns the UK will fall into recession this year

05/08/2022 GMT

BBC World Service - Business Matters, Bank of England warns the UK will fall into recession this year

Bank of England governor warns interest rates may have to rise even higher

The Bank of England has warned the UK will fall into recession as it raised interest rates by the most in 27 years.

The economy is forecast to shrink in the last three months of this year and keep shrinking until the end of 2023.

Insurance companies in Australia say flood-prone areas might have to be abandoned because the risks are just too high.

A US court has ordered conspiracy theorist - Alex Jones to pay $4.1m in damages after falsely claiming the Sandy Hook school shooting in 2012 was a hoax.


(Governor Andrew Bailey says the alternative would be worse. Credit: Reuters)

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Bank of England warns the UK will fall into recession this year

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