BREAKING: UK Inflation To Hit 10.9%, Economy In Recession Till 2024 – BoE
Business News, Latest Headlines Thursday, November 3rd, 2022
(AFRICAN EXAMINER) – The Bank of England on Thursday hiked its interest rate 0.75 percentage points, the biggest increase in 33 years, to fight inflation set to peak around 11 percent as recession hit Britain.
The BoE voted to lift borrowing costs to three percent, the highest level since the 2008 global financial crisis and said Britain was in a recession set to last until the mid-2024.
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