Friday’s papers are united in gloom, placing front and centre the Bank of England’s grim forecast of a lengthy recession and inflation rising to its highest level since 1980.
The Financial Times goes big with a “red alert” graphic showing GDP and inflation alongside an image of Bank governor Andrew Bailey, under the headline: “BoE warns of long recession as interest rates rise by half-point”. It notes that the outlook is worse than that of the US or the EU.
