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If recession hits the UK, a base rate rise is the last thing we need
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When Bank of England officials meet this week to consider how much to raise the central bank’s base rate by, they could be forgiven for having spent the previous day scratching their heads.There are figures that show the UK economy is – like an 18th-century depiction of John Bull after a feast of pies – straining at full capacity.
In normal times, low unemployment and a record number of vacancies would indicate a boom in full swing.These, however, are not normal times.
Read more on theguardian.comAbout this in other media
Brexit will make a bad recession even worse. But Sunak and Truss won’t question it theguardian.com /1 week ago
Workers asking for pay rises risk embedding inflation, says Bank boss theguardian.com /1 week ago
‘The big squeeze’: what the papers say about Bank of England’s recession forecast theguardian.com /1 week ago
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