Will a summer of discontent hurt the Tories or Labour more?
Daily Politics from the New Statesman
00:00
Is the Bank of England's Only Choice to Push Us Into a Recession?
Adam posen, who used to be on the bank of england's rate setting committee has suggested around three and a half to four % in the next kinde of year or so. When you raise interest rates, mortgage borrowing becom way more expensive. People less likely to buy a new house or get a new mortgage - especially if they've locked in their mortgage deal for a few years. Borrowing generally becomes incredibly expensive. And it looks very likely now that we are heading towards a recession. The question isn't really whether we're going into a recession any more. The question feels more like, how deep is that recession going to be? That's one i definitely can't
Play episode from 06:05
Transcript
