UK recession 2022

The Bank now thinks that the UK will enter a recession in October that will last until the end of 2023, the longest since the 2008 financial crisis. It expects inflation to peak above 13% later this year, the highest rate since 1980, and to stay high for much of next year. And it says unemployment is likely to climb to 6.3% by 2025, from 3.7% today.

– Friday briefing: What the interest rate spike means for the country – and for…