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The Latest Breaking News from Recession

Bank Of England Raises Rates Again, Says UK Is Entering Recession: Will The US Fed Follow Suit?

The Bank of England has now raised rates at six consecutive meetings to try and combat the U.K.’s rampant inflation. Its interest rate now stands at 1.75%.

Benzinga

Oil Prices Slump to Lowest Since Before Ukraine Invasion

Global oil prices dropped on Thursday to their lowest levels since before Russia's February invasion of Ukraine as traders fretted over the possibility of an economic recession later this year that could torpedo energy demand. Benchmark Brent crude futures dropped more than 3% to $93.81 a barrel after touching a…

Asharq Al-Awsat

Boris Johnson and Nadhim Zahawi 'missing in action' amid dire recession warning

The Chancellor was said to be “working remotely” from a family break, while the PM and wife Carrie have reportedly jetted off on a delayed honeymoon to Slovenia - as the Bank of England issued a bleak recession warning

Daily Mirror

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Boris Johnson and Chancellor Nadhim Zahawi on holiday despite financial gloom

Both men were away from Westminster as the Bank of England raised interest rates again and warned of the longest recession since the financial crisis.

The Independent UK

Companies hoarding workers could keep the labor market strong

Some employers say they are hesitant to reduce headcount, even as economic growth deteriorates.

Axios

The Leader podcast: Interest rates rise as UK faces another recession

The UK is once again facing a recession, as the Bank of England announced its predictions for the economy, alongside a 0.5% rise in interest rates.

Evening Standard

Boris Johnson and Keir Starmer both on holiday as economy crumbles

BORIS Johnson has come under fire for being on holiday while the UK is forecast to go into recession amid rising interest rates and inflation.

The National (Scotland)

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Bank of England raises interest rates, predicts long recession

Every central banker dreams of their ‘whatever it takes‘ moment, a reference to then ECB President Mario Draghi’s 2012 commitment to preserve the euro.

Evening Standard

3 Low-Volatility Stocks to Invest in Right Now

U.S. GDP declined for the second straight quarter from April to June, adding to the recession concerns. Moreover, considering the lingering macroeconomic headwinds, we think it could be wise to scoop up shares of low-volatility stocks Leidos (LDOS), Incyte (INCY), and The Coca-Cola Company (KO) now. Keep reading….

StockNews.com

Scotland 'cannot afford to stay in the Union' as worst recession since 2008 looms

Pro-independence politicians have hit out following an announcement that interest rates and inflation is set to rise

The National (Scotland)

Bank of England raises interest rates in bid to tame inflation

UK’s central bank hikes key interest rate to 1.75 percent, its highest level since 2008, and warns of recession ahead.

Al Jazeera

What rise in interest rates mean for first-time buyers - and your mortgage payments

THE UK is set to fall into its longest recession since the financial crisis and inflation will peak at more than 13 as gas prices soar, the Bank…

The National (Scotland)

2 Stocks to Buy at a Discount Right Now

Better-than-expected corporate earnings and growth in the services sector last month should help offset the impact of recession fears on the stock market. However, since market swings are expected to continue, it could be wise to invest in quality stocks Exelixis (EXEL) and AutoNation (AN), currently trading at significant discounts…

StockNews.com

Interest rates rise to 1.75%, with UK set to enter recession this year

Bank of England hikes rates to their highest level since January 2009

Insider UK

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The National (Scotland)

Finance expert explains how to avoid a credit card rate rise as recession looms

Interest rates have risen to their highest level since 2008

The National (Scotland)

'Final straw' warning for struggling hospitality sector as recession threat looms

SOARING interest rates could be the “final straw” for struggling hospitality businesses, industry leaders have warned as the UK economy faces a…

The National (Scotland)

What happens to house prices in a recession?

The Bank of England has pushed through the biggest interest-rate hike in 27 years as it warned the UK is heading for more than a year of recession.

Manchester Evening News

Bank of England says UK to enter recession lasting more than a year with inflation hitting 13.3%

The Bank has stated that the UK's "growth is very weak by historical standards"

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The Guardian - UK

As recession looms, the Bank of England’s independence is under threat

Analysis: The monetary policy committee has been accused of being asleep at the wheel amid cost of living crisis

The Guardian - UK

Bank of England hikes rates as it predicts 13% inflation and long recession

Base rate raised by 0.5 percentage points to 1.75%, as Bank says inflation will hit 13% in October

Evening Standard

Bank of England warns of long recession in 2023 as it hikes interest rates

Economists say bleak new GDP and inflation forecasts are a “horror show.”

Daily Mirror

Bank of England doomsday forecast of recession, interest rates and 13% inflation

The dire economic conditions will see real household incomes drop for two years in a row, the first time this has happened since records began in the 1960s, according to the Bank's forecasters

Wales Online

Interest rates up to 1.75%, with inflation forecast to hit 13.3%

The UK will enter five consecutive quarters of recession with gross domestic product falling as much as 2.1%, the Bank said

The Independent UK

UK faces long recession and deepest plunge in living standards on record, Bank of England warns

Country to enter recession this year and economy on course to shrink for five straight quarters

The Guardian - UK

Is Bank of England about to break precedent on interest rates?

Markets expect 0.5 percentage-point rise for first time since independence as inflation rises

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