UK faces bigger and faster recession than other European countries, Bank of England warns

PA Wire

The UK is heading towards a plunging downturn far steep than other major economies, the Bank of England governor has warned.

Speaking at a conference in Sintra, Portugal, Andrew Bailey said Britain’s economy had arrived at a “turning point” in the wake of the Covid-19 pandemic, the soaring cost of living, the war in Ukraine and sprialling inflation.