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The Latest Breaking News from Recession

What is a recession – explanation in full amid Bank of England warning

As the UK faces its longest recession since the 1920s, we explain what that actually means

Manchester Evening News

Biggest interest rate rise in decades as the Bank of England predicts longest-ever recession

Property price chat, Tube delays, torrential rain – this morning doled out a full house of London bingo. And then the Bank of England said ‘hold my £8.50 beer’.

Evening Standard

Bank of England delivers biggest interest rate hike in 33 years

Central bank raises key rate to 3 percent, warns UK economy is in a recession that could last two years.

Al Jazeera

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Deeper US recession looms as resilient labor market spurs Fed

The odds of a U.S. recession are rising. And the chances it will be mild are falling.

Tribune News Service

BoE: Britain faces two-year recession

LONDON: The Bank of England raised interest rates to 3% on Thursday from 2.25%, its biggest rate rise since 1989, but it pushed back against expectations for further steep hikes, saying Britain faces a painful recession that could last two years.

Bangkok Post

With interest rates at 3% and fears of longest recession in 100 years, PM urged to get business basics right

Chamber boss: 'Investment intentions... are lagging significantly due to the low confidence affecting many firms right now'

Birmingham Post

UK faces longest recession since records began, Bank of England warns

Interest rates have been hiked for the eighth time in a row

Manchester Evening News

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

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

Evening Standard

Treasurer Jim Chalmers plays down recession fears on Q+A as energy costs and inflation continue to rise

Treasurer Jim Chalmers tells ABC's Q+A that he intends to tackle the rising cost of power prices by Christmas as he defends the budget and plays down the fears of Australians about a recession.

ABC News

UK is heading for longest recession in a century, Bank of England warns

The Bank of England issued a gloomy warning about the future of the British economy as it hiked interest rates to 3%, the biggest single rate rise in three decades

Daily Mirror

Pound falls after Bank of England hikes interest rates

Sterling drops 1.4% against US dollar after decision-makers warn of longest recession on record

The Independent UK

UK headed for longest recession in century, says Bank of England

Recession could last well into 2024, says central bank as interest rates hiked

The Independent UK

UK could be facing longest recession since records began as interest rates go up

Homeowners are set to face the biggest single shock on their mortgage bills since the 1980s as the Bank of England hiked interest rates for the eighth time in a row. The Bank’s base rate will rise to 3% from 2.25%, its highest for 14 years

Wales Online

Interest rate rises again as Bank of England warns of longest recession on record

INTEREST rates have risen to 3 per cent as the Bank of England announced the biggest hike for three decades.

The National (Scotland)

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The Independent UK

Bank of England confirms biggest interest rate hike since 1980s

The UK could be facing the longest period of recession since reliable records began

Insider UK

Bank of England raises interest rates to 3%

Central bank also warns that the UK could be on course for its longest recession since reliable records began a century ago

Birmingham Post

Interest rates up to 3% as Bank of England bids to tackle cost of living crisis and warns of long recession

Rise from 2.25% to 3% had been widely expected and is biggest since 1980s

Fortune

Why Bank of America CEO Brian Moynihan is not so stressed about recession

"We are in pretty good shape. Recession predicted. Those things will collide.”

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Caixin Global

Fisher: China’s Economy Can Weather a Global Recession — if One Even Hits

History shows Chinese growth can persist despite pockets of weakness and recession elsewhere

The Independent UK

Asia stocks fall after Fed says more US rate hikes likely

Asian stock markets have sunk after the Federal Reserve added to fears of a possible recession by saying it wasn’t finished raising U.S. interest rates to cool inflation

The Conversation

Fed faces twin threats of recession and financial crisis as its inflation fight raises risks of both

There is wide agreement among economists and market observers that the Federal Reserve’s aggressive interest rate hikes will cause economic growth to grind to a halt, leading to a recession. Less talked about is the risk of a financial crisis as the U.S. central bank simultaneously tries to shrink its…

The New Daily

Alan Kohler: Economists disagree on where interest rates are heading – shock

It’s hard to recall a time when the interest rate forecasts of economists were as widely, and wildly, different as they are now.

Benzinga

When Small Businesses Can't Pay Their Rent, Can A Recession Be Far Behind?

Another huge harbinger of an impending recession is happening in the commercial real estate leased to small businesses. According to an October analysis from the Alignable Research Center, small-business owners are not paying their rent — in droves.

The Independent UK

How steep fed rate hikes affect your finances

Mortgage rates continue to jump, home sales slump and credit cards and auto loans increase

Evening Standard

Maersk warns of ‘dark clouds on the horizon’ as it cuts demand forecast amid growing recession fears

The firm said vacancy rates for warehousing fell to near-historic lows, as businesses scrambled for extra storage space to hold their swelling inventory levels after a drop-off in consumer demand

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