The Bank of England may be forced to pause its current rate hike cycle for fear of tipping the country’s economy into recession.

While it seems that inflation is still limited to the supply side, caused mainly by the remaining bottlenecks in supply chains caused by the Pandemic, so far it has not spilled over into the labour force.

The country is gripped by the fears that have been created by several factors created by an unprecedented fall in the standard of living.

A slowdown in activity is being predicted by nearly every economist and market commentator as the continued rise in inflation collides with the effect of the conflict in Ukraine.

February’s growth figures will be announced later today and it is unlikely that the strong GDP seen in January will be repeated.

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