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Bank of England Warn of Deepest Recession on Record

The Bank of England has warned that the UK economy is facing its worst recession on record.

In a scenario-rather than a forecast- that the Bank drew up, the economy could contract by 14% this year.

It would represent the biggest economic downturn since 1706.

This is based on lockdown restrictions being eased from June.

Economy Back on Track Next Year

The Bank also envisages a bounce back of 15% of economic activity next year.

Yet it will not be until the middle of next year

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