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Evening Standard
Evening Standard
World
Jonathan Prynn

UK heading for longest recession in modern history, Bank of England warns

Recession United Kingdom Inflation Britain Monetary Policy Committee MPC

Britain is heading for its longest recession in modern history with no recovery until summer 2024 the Bank of England warned on Thursday.

The bleak forecast from Bank officials came as its Monetary Policy Committee (MPC) voted 7-2 to hike its interest rate from 2.25 per cent to 3 per cent to curb inflation.

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