UK could be pushed into recession if interest rates are not cut – Bank forecast
The Bank of England risks pushing the UK into a recession if it holds interest rates where they are now, its own forecasts have shown.
If the Bank’s base rate stays at 5.25%, then gross domestic product (GDP) will fall by 0.2% in the first quarter of this year, and 0.4% in the second quarter.
That would be a recession, defined as two consecutive quarters of contraction in the economy.
