UK facing long winter of soaring inflation and prospect of lengthy recession

Britain is facing a long and hard winter of rampant inflation, rising interest rates and recession. Andrew Bailey, the governor of the Bank of England (BoE), gave this bleak outlook during a press conference on Thursday (Aug 4) in which he forecast that inflation would jump to 13.3 per cent in October, the highest level since 1980 and way above the central bank’s earlier target of 2 per cent.


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