The Bank of England is all set to end its tightening cycle with a final rate hike this week as any further increase will push the UK economy into a deep recession.
The record high wage growth as well as persistently high inflation strengthened the call for additional policy tightening.
However, the past rate hikes have started to damp the economic activity. Recent economic indicators suggest that the economy has entered a mild recession.
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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.