UK recession guaranteed with BoE outlook for massive job losses ...Qatar

Britain is headed for a deep recession, with the Bank of England (BoE) working to clamp down on inflation in a move that may cost the economy at least half a million jobs. The UK central bank pushed through its biggest interest rate increase in 33 years on Thursday, bringing the benchmark lending rate to a 14-year high of 3%. It estimated unemployment may rise to just above 5% even if borrowing costs remain steady and the economy may shrink 1.7% over 18 months - not recovering for three years. The outlook underscores the headwinds Rishi Sunak’s government faces in the runup to the next election, with the Treasury planning a package of spending cuts and tax increases on November 17. While ec

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