WITH inflation falling and a global recession on the horizon, we look at how your finances could be affected, and how best to protect them. It comes as UK inflation for the year to April today halved from 1.5 per cent to 0.8 per cent, with experts saying it could fall further still. ⚠️ Read our coronavirus live blog for the latest news & updates Meanwhile this week chancellor Rishi Sunak warned of a “never-seen-before coronavirus recession” leaving permanent damage to the economy. This follows stock markets suffering their largest crash since 1987 and the Bank of England base rate dropping to a historic low of 0.1 per cent. Some experts even believe negative interest rates could be on the horizon in a bid to boost the economy. But with one in five (21 per cent) saying concerns about money are having a bigger impact than health worries on their mental health at present, according to Nesta Challenges, what do these financial policies mean for your money, and how can you try and keep it safe? We take a look. What is furlough?THE aim of the government’s job retention scheme is to save one million workers from becoming unemployed due to the… Read full this story
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