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the economy is coping with the cost of living crisis when we get first quarter gdp figures in just over an hour s time. it s expected to have continued growing by 0.2% in the first three months of the year. hardly booming, but a far cry from the record breaking recession that the bank of england was predicting six months ago. on thursday, the bank announced a major rethink of its forecasts, saying the uk will now avoid going into recession. but it warned that the battle to get soaring prices under control is taking much longer than expected. the bank also raised its main interest rate again by 0.25%, to 4.5%. that s the 12th rate rise in a row, and it puts the cost of borrowing here in the uk at a 15 year high. the bank is trying to take spending power out of the economy to stop prices rising so fast. inflation is currently running at over 10% a year. that s the highest rate in a0 years, and five times the bank s target of 2%. our economics editor faisal islam reports. red gr

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