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The Prime Minister of the United Kingdom, Rishi Sunak has been warned the his country’s economy could fall into recession next year.
This is as stubbornly high inflation continues to push interest rates to more than 5%.
Setting the stage for a further rise in borrowing costs on mortgages and loans for millions of households, economists have predicted that the Bank of England could be forced to drive Britain’s economy into a recession to tame inflation.
All this is expected before the next general election, which is scheduled to be held no later than 28 January 2025.
The UK has the 5th best economy in the world.