UK braces for long recession after biggest interest rate hike in 27 years, ASX to open flat - ABC News

Australian shares begin the day higher, after oil prices sink to their lowest level since before Russia's invasion of Ukraine, and the Bank of England announces its biggest interest rate hike in 27 years and warns of a long recession for Britain.

Australian shares have risen slightly in morning trade, despite oil prices plummeting overnight as the Bank of England announced its biggest interest rate hike in 27 years and warned of a long recess… [+5002 chars]

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