The Bank of England has warned the country could face its longest recession on record as it confirmed the biggest interest rate hike for more than 30 years.
In fresh misery for struggling Brits, the central bank’s Monetary Policy Committee (MPC) voted to increase its base rate from 2.25% to 3% - the highest since the global financial crash of 2008.
Further increases “might be required” to tackle soaring inflation, it said.
