Press "Enter" to skip to content

UK faces bigger and faster recession than other European countries, Bank of England warns

By Emily Atkinson

 

Andrew Bailey said the UK economy had reached a ‘turning point’

The UK is heading towards a plunging downturn far steep than other major economies, the Bank of England governor has warned.

Speaking at a conference in Sintra, Portugal, Andrew Bailey said Britain’s economy had arrived at a “turning point” in the wake of the Covid-19 pandemic, the soaring cost of living, the war in Ukraine and spiraling inflation.

He told the meeting of central bankers on Wednesday: “The UK economy is probably weakening rather earlier and somewhat more than others. I think that’s been somewhat evident now for a few months.”

 

READ MORE…

Daily News PDF Archives – Jellyfish.News

Be First to Comment

Leave a Reply

Your email address will not be published.

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Breaking News: