'UK will fall into recession..': Bank of England makes a prediction

Soaring natural gas prices are likely to drive consumer price inflation to 13.3% in October, from 9.4% in June, the bank said. That will push Britain into recession later this year, with economic output declining each quarter from the fourth quarter of 2022 through the fourth quarter of 2023, bank forecasts show.

'UK will fall into recession..': Bank of England
Central banks worldwide are struggling to balance efforts to control inflation while minimizing the fallout for economies that were just beginning to recover from the coronavirus pandemic. Pic: Reuters

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