UK WARNED OF LONGEST RECESSION IN 100 YEARS

The alert from Bank of England comes after it pushed up the cost of borrowing to 3 per cent in the biggest single interest rate rise since 1989.

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UK economy is currently facing an "very uncertain outlook" and the recession is expected to continue through the middle of 2024.

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The United Kingdom has been warned by the Bank of England about the country's descent into the deepest recession in the past 100 years.

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The warning comes after the central bank increased costs of borrowing by 3 percent in the largest single rate increase since 1989.

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The Bank stated they believe that 0.75 percent increase, which is the latest of 8 rate increases since the beginning of last year

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According to the report published in The Guardian, the UK economy is facing an "very uncertain outlook".

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This recession that began in the summer of this year and is expected to continue until the middle of 2024.

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The only positive is that mortgage owners could be relieved as the central bank has nixed expectations for a significant increase in borrowing costs.

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Kate Middleton facing a lot of stress?

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UK WARNED OF LONGEST RECESSION IN 100 YEARS

CREDIT : GOOGLE

FACTS

The alert from Bank of England comes after it pushed up the cost of borrowing to 3 per cent in the biggest single interest rate rise since 1989.

CREDIT : GOOGLE

UK economy is currently facing an "very uncertain outlook" and the recession is expected to continue through the middle of 2024.

CREDIT : GOOGLE

The United Kingdom has been warned by the Bank of England about the country's descent into the deepest recession in the past 100 years.

CREDIT : GOOGLE

The warning comes after the central bank increased costs of borrowing by 3 percent in the largest single rate increase since 1989.

CREDIT : GOOGLE

The Bank stated they believe that 0.75 percent increase, which is the latest of 8 rate increases since the beginning of last year

CREDIT : GOOGLE

According to the report published in The Guardian, the UK economy is facing an "very uncertain outlook".

This recession that began in the summer of this year and is expected to continue until the middle of 2024.

CREDIT : GOOGLE

The only positive is that mortgage owners could be relieved as the central bank has nixed expectations for a significant increase in borrowing costs.

Kate Middleton facing a lot of stress?