'UK will fall into recession this year' says Bank of England

The Bank of England has warned the UK will fall into recession as it raised interest rates by 1.75% - the most in 27 years. Governor Andrew Bailey said he knew the cost of living squeeze was difficult but if it didn't raise interest rates things would get "even worse". The Insurance Council of Australia has told the BBC that some flood-prone areas might have to be abandoned because the risks are just too high. The Nigerian Broadcasting Commission NBC has fined several partner stations of the BBC in Nigeria for showing a documentary about armed criminal gangs in the northwest of the country. The NBC claims the film contravened the country's broadcasting code.