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The Bank of England warns that the UK will enter the longest recession ever, as they raised interest rates by the highest level since 1989 to help fulfil their own prophecy.

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• The Bank of England warns the UK facing longest recession since records began.
• Misery for mortgage borrowers as MPC raises interest rates by the most in 33 years to 3%.
• Base interest rates hiked again from 2.25% to 3% - the biggest jump since 1989.
• Banks predicts a "very challenging" 2-year slump with unemployment doubling by 2025.
• Bank hope to bring down soaring prices as the cost of living rises at its fastest rate in 40 years.

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