Bank of England expects the UK to be in recession

Image Source: Bloomberg As it raised interest rates by the highest in 33 years. The Bank of England warned that the UK is facing its most prolonged recession since records began. It said that the UK would face a “tough” two-year slump and that by 2025, unemployment would almost double. Andrew Bailey, the head of […]

IMF issues stark recession warning yet

Image Source: ISS Africa With a stern warning that “the worst is yet to come,” the IMF has again revised its projection for the world economy. For many people, 2023 “will feel like a recession,” the report states. The organization forecasted on Tuesday that global growth will slow to 2.7% next year, with a 25% […]

Bank of England warns the UK of recession

Image Source: Bloomberg The Bank of England said the UK might already be in a recession as interest rates increased from 1.75% to 2.25%, the highest level in 14 years. The Bank has increased rates for the eighth consecutive time in an effort to rein down rising prices. Since 2008, when the UK banking sector […]

Recession: Is the US heading into a downturn?

Image Source: Forbes According to the latest Economist/YouGov poll, three out of five Americans believe that the US is in a recession. So why, then, is it unofficial? The highest rate of inflation since the 1980s has many people feeling down. As a result, some Americans cut back on driving to save gas money, avoid […]

JPMorgan Chase stares down at a possible recession

Image Source: CNN JPMorgan Chase began the second quarter results season with disappointing news: The bank temporarily halted share repurchases and missed analysts’ projections for revenue growth and earnings. Profit decreased 28% from the prior year to $8.65 billion, and the bank posted earnings of $2.76 per share as opposed to the $2.88 experts had […]