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Bank of England warns of deepest recession on record

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The Bank of England issued a warning that the United Kingdom is heading into its deepest recession on record.

The COVID-19 crisis is expected to result in a 14% drop in the country's economy this year, according to bank officials.

The bank's report is based on the assumption that social distancing measures will be gradually phased out between June and September.

Read more from BBC News.

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