Watch: Worst economic prediction for a generation - as UK heads for recession (
Normally you'd expect the biggest single hike in interest rates for 27 years would make the biggest headline.

But the dismal economic forecasts from the Bank of England make equally grim reading.

Rising interest rates will mean mortgage and loan repayments will go up.

That bitter medicine is supposed to treat spiralling inflation.

And there is also the warning that we are about to crash into a recession like that of 2008.
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    Francisco Gimeno - BC Analyst If the recession topic started in US, it's now the UK time to want about the incoming and very probably great recession, with all consequences both for financial institutions and Government policies, and for the normal UK citizen which has to pay mortgages, bills, and is scared to be laid off due to a failing job market when companies can't continue paying all staff they were using. The forecast is grim, and this is just the beginning. Meanwhile, everyone is like living in the summers which preceded the big World Wars, a summer without cares and worries. The autumn will be however complicated.