As the adage goes, every 5-7 years, people forget that a recession happens every 5-7 years.
The decision to raise Bank of England (BoE) rates at the start of August was ostensibly one that would bring relief to hard-pressed savers.
Market sentiment towards the recent struggles of the UK high street has been unequivocally negative, which in turn has left many people wondering if this is an indicator that hard times lie ahead for the wider economy.
As is usually the case, economists are divided following the Bank of England's decision to hike interest rates by 25 basis points to 0.75 per cent on Thursday.
As the Monetary Policy Committee (MPC) prepares to assemble for next week’s August meeting, many sceptics will be feeling that familiar sense of ‘here we go again’.