UK braces for long recession after biggest rate hike in 27 years, ASX climbs to two-month high

Australia’s stock market has risen to its highest level since early June, even as oil prices plummeted overnight as the Bank of England announced its biggest rate hike in 27 years and warned of a long recession for the UK. The ASX 200 closed 0.6 percent higher at 7,016 points on Friday. The benchmark index …

UK braces for long recession after biggest rate hike in 27 years, ASX climbs to two-month high Read More »