UK in recession and further interest rate hikes on their way, Bank warns Kwarteng

Threadneedle Street makes clear on eve of tax-cutting mini-budget that plans risk triggering more rate rises

The Bank of England has warned Kwasi Kwarteng the economy is in recession and it will most probably need to push interest rates higher following Friday’s tax-cutting mini budget from the chancellor.

On the eve of a major package of support from the chancellor designed to break what he called the economy’s “cycle of stagnation”, Threadneedle Street said the UK economy was heading for a second consecutive quarter of falling output, with gross domestic product set to shrink 0.1% in the three months to September.

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uk recession further interest

@Madelei24923925

UK in recession and further interest rate hikes probable, Bank warns Kwarteng https://t.co/IKL16m7zre

Posted on: 2022-09-28 16:23

@Scunnert2

RT @kmacraeplockton: 3 options according to expert on #newsnight 1, BoE raises interest rates and plunges UK into recession. 2, pound fall…

Posted on: 2022-09-26 22:01

@iAntsaoir

RT @kmacraeplockton: 3 options according to expert on #newsnight 1, BoE raises interest rates and plunges UK into recession. 2, pound fall…

Posted on: 2022-09-26 21:55

@kmacraeplockton

3 options according to expert on #newsnight 1, BoE raises interest rates and plunges UK into recession. 2, pound f… https://t.co/j8TyBOmfcz

Posted on: 2022-09-26 21:42

@shiremoorpotter

RT @KateAndrs: @lukejperkins No, the gov will have been disappointed that last week’s rise didn’t go further (see link). But generally spea…

Posted on: 2022-09-26 16:44

@huxleyisland

RT @KateAndrs: @lukejperkins No, the gov will have been disappointed that last week’s rise didn’t go further (see link). But generally spea…

Posted on: 2022-09-26 15:23

@Steve_Tomlin

RT @KateAndrs: @lukejperkins No, the gov will have been disappointed that last week’s rise didn’t go further (see link). But generally spea…

Posted on: 2022-09-26 13:42

@Charlie59845959

RT @KateAndrs: @lukejperkins No, the gov will have been disappointed that last week’s rise didn’t go further (see link). But generally spea…

Posted on: 2022-09-26 13:38

@MarketBlondes

RT @KateAndrs: @lukejperkins No, the gov will have been disappointed that last week’s rise didn’t go further (see link). But generally spea…

Posted on: 2022-09-26 12:39

@Sunpoches

RT @KateAndrs: @lukejperkins No, the gov will have been disappointed that last week’s rise didn’t go further (see link). But generally spea…

Posted on: 2022-09-26 11:34

@MDC12345678

RT @KateAndrs: @lukejperkins No, the gov will have been disappointed that last week’s rise didn’t go further (see link). But generally spea…

Posted on: 2022-09-26 11:11

@lostindisco

RT @KateAndrs: @lukejperkins No, the gov will have been disappointed that last week’s rise didn’t go further (see link). But generally spea…

Posted on: 2022-09-26 11:10

@EvelynSpring8

RT @KateAndrs: @lukejperkins No, the gov will have been disappointed that last week’s rise didn’t go further (see link). But generally spea…

Posted on: 2022-09-26 09:50

@Startinglifeag1

RT @KateAndrs: @lukejperkins No, the gov will have been disappointed that last week’s rise didn’t go further (see link). But generally spea…

Posted on: 2022-09-26 09:25

@dajturnbull

RT @KateAndrs: @lukejperkins No, the gov will have been disappointed that last week’s rise didn’t go further (see link). But generally spea…

Posted on: 2022-09-26 08:02

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