NEW: 🚨

*Bank of England raises interest rates by 0.5% to 1.75%, biggest rise in 25 years,
*as it predicts an even higher peak in inflation of 13 (THIRTEEN) %

🚨 Bank predicts recession starting this year lasting as long as financial crisis (5 quarters), as deep as 1990s

— Faisal Islam (@faisalislam) August 4, 2022