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UK Faces 2-Year Recession, Warns Central Bank, Announces Huge Rate Hike
The Bank of England on Thursday announced its biggest interest rate hike since 1989 to combat sky-high inflation that it warned was pushing Britain into a recession set to last until mid-2024.
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Don't Know Where Boris Is: UK Minister On PM's Leave Amid Economic Crisis
A senior British minister admitted Friday "I don't know where Boris is" as the premier checked out on holiday, in a week that saw the Bank of England warn a year-long recession is coming.
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Challenging Winter Ahead For UK As Bank Of England Forecasts Lengthy Recession
Britain will sink into a lengthy recession later this year as inflation rockets even higher, the Bank of England forecast Thursday as it unveiled the biggest interest rate hike since 1995.
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UK Pledges $39 Billion to Protect Economy From Coronavirus
Britain unveiled a 30 billion pound ($39 billion) economic stimulus plan on Wednesday to tackle the risk of a coronavirus recession, just hours after the Bank of England slashed interest rates in a double-barrelled response to the crisis. Prime Minister Boris Johnson's finance minister, Rishi Sunak, announced the plan as part of a debt-fuelled inve...
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Bank Of England Set To Cut Rates For First Time Since 2009
The Bank of England is expected to cut interest rates for the first time since 2009 on Thursday as Britain's economy slips towards recession in the wake of June's vote to leave the European Union.
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UK recession deepens as euro zone woes mount
Britain is in its second recession since the 2007-2008 crisis, and the prospects for a recovery are cloudy.
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Bank of England chief predicts UK recovery
Mervyn King, the Bank's Governor said no single agency could be blamed for the crisis and that he forsees quick recovery and better results in employment data.
-
UK Faces 2-Year Recession, Warns Central Bank, Announces Huge Rate Hike
The Bank of England on Thursday announced its biggest interest rate hike since 1989 to combat sky-high inflation that it warned was pushing Britain into a recession set to last until mid-2024.
-
Don't Know Where Boris Is: UK Minister On PM's Leave Amid Economic Crisis
A senior British minister admitted Friday "I don't know where Boris is" as the premier checked out on holiday, in a week that saw the Bank of England warn a year-long recession is coming.
-
Challenging Winter Ahead For UK As Bank Of England Forecasts Lengthy Recession
Britain will sink into a lengthy recession later this year as inflation rockets even higher, the Bank of England forecast Thursday as it unveiled the biggest interest rate hike since 1995.
-
UK Pledges $39 Billion to Protect Economy From Coronavirus
Britain unveiled a 30 billion pound ($39 billion) economic stimulus plan on Wednesday to tackle the risk of a coronavirus recession, just hours after the Bank of England slashed interest rates in a double-barrelled response to the crisis. Prime Minister Boris Johnson's finance minister, Rishi Sunak, announced the plan as part of a debt-fuelled inve...
-
Bank Of England Set To Cut Rates For First Time Since 2009
The Bank of England is expected to cut interest rates for the first time since 2009 on Thursday as Britain's economy slips towards recession in the wake of June's vote to leave the European Union.
-
UK recession deepens as euro zone woes mount
Britain is in its second recession since the 2007-2008 crisis, and the prospects for a recovery are cloudy.
-
Bank of England chief predicts UK recovery
Mervyn King, the Bank's Governor said no single agency could be blamed for the crisis and that he forsees quick recovery and better results in employment data.
