Bank of England warns UK 'may be in recession' as it hikes interest rate
The Bank of England has warned the UK economy may already be in recession, as it hikes interest rates for the seventh time to combat the spiralling pace of price rises. Inflation is still hovering nearly 40-year highs, just under 10%. Meanwhile, Turkey's central bank continues its unorthodox monetary policy, lowering interest rates despite inflation topping 80%. Also in the show - French President Emmanuel Macron inaugurates the country's first offshore wind farm.
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The Bank of England has warned the UK economy may already be in recession, as it hikes interest rates for the seventh time to combat the spiralling pace of price rises. Inflation is still hovering nearly 40-year highs, just under 10%. Meanwhile, Turkey's central bank continues its unorthodox monetary policy, lowering interest rates despite inflation topping 80%. Also in the show - French President Emmanuel Macron inaugurates the country's first offshore wind farm.
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