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Bank of England predicts recession at the end of the year

The building of the Bank of England in London, Thursday, Aug. 4, 2022. The Bank of England will hold the Monetary Policy Report Press Conference on interest rates that are expected to go up by half a percentage point, which would be the biggest rise in 27 years. (AP Photo/Frank Augstein) The Bank of England in London, Thursday, Aug. 4, 2022. The Bank of England is likely to announce its biggest interest rate increase in more than 27 years on Thursday as it seeks to rein in accelerating inflation driven by the fallout from Russia’s invasion of Ukraine. (AP Photo/Frank Augstein) People wait at the Bank of England in London, Thursday, Aug. 4, 2022. The Bank of England will hold the Monetary Policy Report Press Conference on interest rates that are expected to go up by half a percentage point, which would be the biggest rise in 27 years. (AP Photo/Frank Augstein) The Bank of England in London, Thursday, Aug. 4, 2022. The Bank of England will hold the Monetary Policy Report Press Conference on interest rates that are expected to go up by half a percentage point, which would be the biggest rise in 27 years. (AP Photo/Frank Augstein) Governor of the Bank of England, Andrew Bailey speaks during the Bank of England's financial stability report press conference, at the Bank of England, London, Thursday, Aug. 4, 2022. The Bank of England says the United Kingdom’s economy is projected to enter a recession in the final three months of the year. The bank said Thursday that inflation will accelerate to over 13% in the fourth quarter and remain “very elevated,” for much of 2023. (Yui Mok/Pool Photo via AP) People wait at the Bank of England in London, Thursday, Aug. 4, 2022. The Bank of England will hold the Monetary Policy Report Press Conference on interest rates that are expected to go up by half a percentage point, which would be the biggest rise in 27 years. (AP Photo/Frank Augstein)
Bank of England predicts recession at the end of the year