Andrew Bailey during the Bank of England’s financial stability report press conference (Yui Mok/PA)
(Picture: PA Wire)The UK is once again facing a recession, as the Bank of England announced its predictions for the economy, alongside a 0.5% rise in interest rates.
It’s the highest for 27 years, and the Bank of England has also predicted energy bills will push inflation to 13% - up from an already 40-year-high of 9.4%.
