Is the UK headed towards recession?

The Monetary Policy Committee has just raised interest rates again. This is the fourth consecutive rise, the first time this has happened within a quarter of a century. Economically the future is looking pretty bleak and not just in the UK, this looks like it may be a global problem caused by several factors. China's no Covid policies, US inflation, the Eurozone trying to wean itself off Russia's oil and gas, etc.

Katy Balls talks to James Forsyth and Kate Andrews about the state of the global economy.