‘We may already be in recession’

<p>Brace yourselves, the Bank of England says we may already be in recession. </p><p>It comes following the announcement of a hike in interest rates - for the 7th consecutive time - to 2.25%. It’s up by half a percentage point and takes borrowing costs to their highest levels since 2008. </p><p>But, what exactly does this all mean for us? The Evening Standard’s Business Editor, Jonathan Prynn, explains.&nbsp;</p><br><p><br></p><br /><hr><p style='color:grey; font-size:0.75em;'> Hosted on Acast. See <a style='color:grey;' target='_blank' rel='noopener noreferrer' href='https://acast.com/privacy'>acast.com/privacy</a> for more information.</p>