‘We may already be in recession’

Brace yourselves, the Bank of England says we may already be in recession.

It comes following the announcement of a hike in interest rates - for the 7th consecutive time - to 2.25%. It’s up by half a percentage point and takes borrowing costs to their highest levels since 2008.

But, what exactly does this all mean for us? The Evening Standard’s Business Editor, Jonathan Prynn, explains. 

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