The Latest Breaking News from Recession

London (AFP) - 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.

Better-than-expected corporate earnings and growth in the services sector last month should help offset the impact of recession fears on the stock market. However, since market swings are expected to continue, it could be wise to invest in quality stocks Exelixis (EXEL) and AutoNation (AN), currently trading at significant discounts…

The Bank has stated that the UK's "growth is very weak by historical standards"

Analysis: The monetary policy committee has been accused of being asleep at the wheel amid cost of living crisis

London (AFP) - The Bank of England unleashed Thursday its biggest interest rate hike since 1995 as it forecast inflation topping 13 percent this year and warned of a looming year-long recession.

Base rate raised by 0.5 percentage points to 1.75%, as Bank says inflation will hit 13% in October

Economists say bleak new GDP and inflation forecasts are a “horror show.”

The dire economic conditions will see real household incomes drop for two years in a row, the first time this has happened since records began in the 1960s, according to the Bank's forecasters

The UK will enter five consecutive quarters of recession with gross domestic product falling as much as 2.1%, the Bank said