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UK faces longest recession since records began, Bank of England says

Por: CNBC Business November 03, 2022

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The Bank of England hiked its benchmark interest rate by an historic 75 basis points Thursday — its largest increase since 1989.Toby Melville Afp Getty ImagesLONDON — The Bank of England warned Thursday that the U.K. is facing its longest recession since records began, with the economic downturn expected to extend well into 2024.The central bank described the outlook for Britain's economy as very challenging, noting that unemployment... + full article



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