Hedge fund manager Crispin Odey predicts UK recession - letter

Veteran hedge fund manager Crispin Odey believes Britain is "destined" to have a recession, he said in a letter to investors seen by Reuters. London-based Odey said the Bank of England had engineered an unsustainable situation in which company earnings have fallen but the stock market continues to rise. Bank of England governor Mark Carney should be raising interest rates to counter the growing difference between inflation next year and today's interest rates, he said.