The United Kingdom has raised their rates by half a percentage point. The pound has dipped on this news. These rates were last like this in the 2008 recession.
“Bank of England Governor Andrew Bailey has been under fire for allowing inflation to reach a 41-year-high of 11.1pc in October, more than five times the 2pc target.
Policymakers will have been reassured to see that inflation fell to 10.7pc in November.”
Where do you think things lie for the UK from this point onwards?
Are they looking like they’re going to head into a deep recession due to the various macro economic difficulties that have occurred in recent history?
Source: uk inflation rate – Telegraph
