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BoE outlines two bleak scenarios for taming inflation

Andrew Bailey, BoE governor

Andrew Bailey: ‘We think [the] bank rate will have to go up by less than currently priced into financial markets’ © FT Montage/PA

The Bank of England painted two pictures of the outlook for the UK economy on Thursday. Both scenarios were bleak.

Whatever happened, said the central bank, the British economy was slipping into a recession that would last at least all of next year. Unlike the Federal Reserve, which on Wednesday was still…


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