The Bank of England has increased interest rates from 1.75% to 2.25% and said the UK may be in a recession already.
Katina Hristova 734 posts 0 comments
Katina Hristova is the editor of Finance Monthly magazine.
The World Bank has warned that the interest rate hikes by central banks across the world could trigger a global recession in 2023.
The European Central Bank has announced a record increase in Eurozone interest rates in an attempt to fight inflation. It’s lifted all of its main rates by ¾ of a percentage and said that a further rise could be expected later this year.