A the recession is approaching, according to the Bank of England, and it will be long, more than a year.

The economy is not expected to contract as sharply or as deeply as it did in the 2008 financial crisis, but inflation – the rate of price increases – is expected to remain high through 2023. This will lead to lower living standards at the highest rate on record, according to the central bank.

Borrowing is now more expensive with the Bank of England’s key rate raised to 1.75% on Thursday. And the purchasing power of silver is set to be eaten away by inflation which he predicts will hit more than 13% later this year.

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Source: www.independent.co.uk
This notice was published: 2022-08-05 17:00:25