‘The big squeeze’: what the papers say about Bank of England’s recession forecast

Bleak period of recession combined with rises in cost of living dominate the front pages, with plenty of horrifying graphics

Friday's papers are united in gloom, placing front and centre the Bank of England's grim forecast of a lengthy recession and inflation rising to its highest level since 1980.

The Financial Times goes big with a red alert" graphic showing GDP and inflation alongside an image of Bank governor Andrew Bailey, under the headline: BoE warns of long recession as interest rates rise by half-point". It notes that the outlook is worse than that of the US or the EU.