The Bank of England announced a 0.75% interest rate hike on Thursday increasing the rate to 3% from 2.25%. The European Central Bank jacked rates by the same amount at the end of October to 1.5%, its highest level since 2009. The ECB hasn’t raised rate so aggressively since the beginning of the eurozone in 1999. Inflation in the US has been slowly coming down since peaking at 9.1% in June, it still sits at 8.2% in inflation. The Fed just announced its fourth straight 75 basis points hike on Wednesday. So far the economy has been able to avoid recession with the economy expanding in the third quarter after two straight declines. The economy is already in a recession . . .
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