By Jack Barnett The Bank of England today hiked interest rates by the largest amount since 1989 and signalled more rises are coming. The Bank’s rate setting committee voted unanimously to lift borrowing costs 75 basis points to three per cent, the highest level since 2008 and the eighth rise in a row. The pound shed more than 1.5 per cent against the US dollar on the news, while the FTSE 100 fell 0.5 per cent. UK households and businesses are set to shoulder the longest recession since comparable records began at eight quarters. The slump will last until the end of 2024 and is likely to be the…