UK Recession
The Bank of England says Britain faces year-long recession from fourth quarter, raising interest rate by half-point which is the biggest hike since 1995.
The bank forecasts UK inflation rate to top 13% later this year, saying UK economy will face contraction expected to persist until the end of next year.
It has blamed soaring gas prices for economic slowdown, while cost-of-living issues have already eroded Britons purchasing power.
Press TV and panelists Tony Gosling, historian and investigative journalist from Bristol, and Steve Keen, economist and author from London look at what the UK government can do to ride out inflation and this economic challenge, at a time there is no government in place.
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