Hunt backs more rate hikes despite risk of recession 

British chancellor of the exchequer Jeremy Hunt said he supported the Bank of England in its quest to bring down inflation

British chancellor of the exchequer Jeremy Hunt said reducing inflation the 'only path' to sustainable growth. 

The British chancellor of the exchequer Jeremy Hunt has backed continuing interest rate hikes to tackle inflation even if it causes a recession.

Earlier this month, the Bank of England raised interest rates by 0.25% to 4.5%, with its governor Andrew Bailey suggesting rate hikes would continue. The bank is fighting double-digit price increases that remains stronger than the forces buffeting the eurozone and the US.