3 Nov 2022

Interest rates rise to 3% as Bank of England warns of long recession

Policy Correspondent

People are already struggling with soaring costs and a tax burden, the highest since World War Two.

Now the Bank of England is preparing us all for years of economic pain.

Yet today it responded with the biggest interest rates rise for 30 years.

The Bank said it had no choice because it needed to control high inflation.

So how are people preparing?