October 5, 2022
Business/Tech

Bank of England warns UK ‘may be in recession’ as it hikes interest rates

bank-of-england-warns-uk-‘may-be-in-recession’-as-it-hikes-interest-rates

Issued on: 22/09/2022 – 22:10

Audio 04:00

04:00

BUSINESS DAILY © FRANCE 24 By: Kate MOODY

Follow The Bank of England has warned that the UK economy may already be in recession, as it hikes interest rates for the seventh time to combat the spiralling pace of price rises. Inflation is still hovering nearly 40-year highs at just under 10 percent. Meanwhile, Turkey’s central bank continues its unorthodox monetary policy, lowering interest rates despite inflation topping 80 percent. Also in the show, French President Emmanuel Macron inaugurates the country’s first offshore wind farm. 

inflation United Kingdom British economy

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