Interest Rate Rise: Now UK Faces Prospect of a Recession

May 5, 2022 • Sky's Economic Editor Ed Conway says the Bank of England is warning a recession could be ahead, and this, combined with double-digit inflation and stalling growth, means a toxic cocktail for the economy.

Bank of England holds news conference as interest rate raised to 1%.

Warning of economic downturn as interest rates rise: The Bank of England has warned the UK faces a "sharp economic slowdown" this year as it raises interest rates to try to stem the pace of rising prices. »