The Guardian Australia – Business
·business
·1 hour ago
UK faces £35 billion economic hit and recession risk due to Iran
The UK faces a £35 billion economic hit and potential recession this year due to the Iran war, as warned by the National Institute of Economic and Social Research. Niesr downgraded growth forecasts for 2026 and 2027, predicting inflation could rise above 5%, forcing the Bank of England to consider significant interest rate increases.
Summary by Glance · The Guardian Australia – Business
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