we start here in the uk where the bank of england has given its bleakest forecast in recent memory a prolonged recession is on the way, starting this autumn and continuing all of next year and into 202a. if accurate, it would be the longest downturn for the uk economy since the financial criss in 2008. inflation is predicted to hit more than 13%, driven by the sharp rise in energy bills. and in an effort to rein in soaring prices, the bank has raised interest rates by the most in 27 years, piling more pressure on households. 0ur economics editor faisal islam reports. as the essentials, from fuel to food, continue to surge in price, with little sign of an end, hitting every household in the country, eventually the entire economy too will actually begin to shrink, a recession now predicted for britain. at the bank of england the governor presented the grim news with troubling charts, almost all heading in the wrong direction. gdp growth in the uk has slowed and the economy is
creation themselves? right numbers on employment ob creation themselves?d creation themselves? well, there is the creation themselves? well, there is the raw creation themselves? well, there is the raw numbers i creation themselves? well, | there is the raw numbers on employment, there is the unemployment rate at 6.3% and there is the label for buddhism rate, the share of americans who are participating in the labour force, who are participating in the labourforce, and who are participating in the labour force, and that is down about one percentage point from where it was before the pandemic. so, in orderto where it was before the pandemic. so, in order to get inflation out of the economy, we need more people coming into work because there are over 10 million unfilled jobs, and 6 million unfilled jobs, and 6 million unemployed. so, there is almost twice the number of job openings as unemployed so we need more people do, take those jobs. we need more people do, take thosejobs. i wi