Bank of England hikes interest rates and warns UK to enter recession with inflation to pass 13% – business live

[AJBot]

Interest rates rise to 1.75% – the biggest jump in 27 years – as BoE warns UK faces long recession as high gas prices hit householdsUK car sales have continued to fall, as the cost of living squeeze hits demand and computer ship shortages constrain supply.Nnew car registrations fell by 9% in July compared with a year ago, the Society of Motor Manufacturers and Traders (SMMT) reports. It’s the fifth monthly decline in a row Continue reading... ...

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[eenya001]

interesting i most say, though depressing as well because of the adverse effect it would have on small scale businesses, but am looking forward as to how people and businesses will react to it.

 

[Sincerem]

interesting i most say, though depressing as well because of the adverse effect it would have on small scale businesses, but am looking forward as to how people and businesses will react to it.

Most of this things is as a result of the war that is happening between Russia and Ukraine because Russia was once upon a time threatened to cut off the oil and gas supplies UK , making its economy a bit depreciated.