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PM and chancellor on holiday as Bank of England warns UK to be hit by recession

Sky News Thursday, 4 August 2022
PM and chancellor on holiday as Bank of England warns UK to be hit by recessionBoth Boris Johnson and his chancellor Nadhim Zahawi are away on holiday as the Bank of England hiked interest rates for 27 years and warned of the longest recession since the financial crisis.
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News video: Bank of England Makes Biggest Interest Rate Hike in 27 Years

Bank of England Makes Biggest Interest Rate Hike in 27 Years 01:31

Bank of England Makes , Biggest Interest Rate Hike in 27 Years. On August 4, the Bank of England raised interest rates by half a percentage point. 'The New York Times' reports that it was the largest increase since 1995. The move comes as policymakers attempt to combat inflation while also...

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Nadhim Zahawi Nadhim Zahawi British politician (born 1967)

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Chancellor admits 'these are challenging times' as GDP falls [Video]

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Chancellor considering 'all options' for winter support [Video]

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