Europe

UK already in recession with GDP falling and interest rates highest since 2008

The Bank of England has raised interest rates to 2.25% from 1.75% – the highest level since November 2008.

The Bank of England has said it now expects a 0.1% fall in GDP over the current quarter, indicating that the country is already in a recession.

This is a breaking news story, more to follow soon… Check back shortly for further updates.

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