Channel 4 News
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Economy Latest: Interest rates up as Bank of England warns of long recession
Posted
November 3, 2022
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November 3, 2022
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13:02Now PlayingPeople are already struggling with soaring costs and a tax burden, the highest since World War Two.
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Now the Bank of England is preparing us all for years of economic pain.
Yet today it responded with the biggest interest rates rise for 30 years.
The Bank said it had no choice because it needed to control high inflation.
So how are people preparing?
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