UK to fall into longest recession since 2008 financial crisis as Bank of England raises interest rates to 1.75% in biggest hike for 27 years

The UK is set to fall into its longest recession since the financial crisis and inflation will peak at more than 13 per cent as gas prices soar, the Bank of England has warned in a damning outlook for the economy.

FULL STORY: UK to fall into longest recession since 2008 financial crisis as Bank of England raises interest rates to 1.75% in biggest hike for 27 years

FIND OUT MORE: Why did the Bank of England change interest rates and what are current interest rates in the UK?