The Latest Breaking News from Bank of England

IMF director Kristalina Georgieva said simultaneous contractions in three major economies—the U.S., the EU, and China—will be the driving forces behind a global recession in 2023.

Austerity in the UK is here to stay. The Bank of England has warned that the country is facing the longest recession since records began, predicting that the economic slump will extend well into 2024. At the same time, the most recent budget has been called austerity 2.0 by companies,…

Scots on fixed rate deals that expire next year are likely to be hit by much higher interest rates

Britain’s recession, however, will be relatively mild, although such forecasting is a mug’s game