Vladimir Putin’s invasion of Ukraine has left Britain on target for a recession lasting greater than a yr and inflation above 13%, the Financial institution of England has warned because it raised rates of interest for a sixth successive time.
Threadneedle Road stated it had no alternative however to extend borrowing prices by 0.5 proportion factors to 1.75%, blaming Russia for value of dwelling pressures not seen in additional than 4 a long time and a 5% drop in dwelling requirements straddling this yr and subsequent – the largest since…
