Persistent inflation and weak productivity will hurt growth prospects, putting the UK economy at a high risk of recessions in 2023 and 2024, economists have warned.
Inflation being predicted to fall sharply this year was not enough to keep the Bank of England from raising interest rates for the tenth consecutive meeting of its Monetary Policy Committee.
The Bank of England has put its bank rate up to 3.5% – the highest it has been since 2008 – in a bid to reduce inflation, which has already begun to fall.
The largest interest rate hike from the Bank of England in 33 years has prompted warnings of financial misery for households, particularly the poorest, and the bank itself has predicted the UK will...
UK interest rates will rise for the seventh time in quick succession as the Bank of England tries to bring inflation down, although the bank’s Monetary Policy Committee said recent government...
The Bank of England has pushed interest rates up by their biggest jump in 27 years, predicting further rampant inflation and a coming economic recession, and analysts think there are...
The UK economy continued its recovery in July as GDP rose by 6.6% month-on-month, the third consecutive month of growth following April’s record GDP fall of 20%, according to the Office for National...
The recession caused by the Covid-19 pandemic has led to the biggest fall in the UK's quarterly gross domestic product since records began, according to the Office for National Statistics.
Brexit has been named as the reason for the UK facing a possible recession and the expected delay of the government’s annual statement on its fiscal plans.
A no-deal Brexit risks pushing Scotland into recession, doubling unemployment and creating a “major dislocation” to the economy, according to the Scottish Government’s chief economist.
