Britain is heading for a protracted recession as inflation surges above 13%, the Bank of England has warned.
The bank, which yesterday raised interest by the largest single increase since 1995, to 1.75%, said the global gas crisis would continue to push up prices.
The forthcoming recession, which will start at the end of the year, is not expected to be as deep as the banking meltdown in 2008 but may last just as long.
Start your free trial today
Your trusted daily source of commercial real estate news and analysis. Register now for unlimited digital access throughout April.
Including:
Mitsubishi Estates and Co-Re appoint Savills to help lease the development’s office space
Decision deferred on former National Institute of Agricultural Botany revamp
Developer has taken 10 storeys off proposals since first filing
Colliers appointed to lease 50,000 sq ft of office space in the Salford Quays development
