British Prime Minister Keir Starmer will hold an emergency government meeting on the economic consequences of the war in the Middle East. The meeting will be attended by Finance Minister Rachel Reeves and Bank of England Governor Andrew Bailey. This was reported by Reuters, writes UNN.
Details
The discussion will take place against the backdrop of rising tensions between the US and Iran and risks to energy markets, which are already affecting the British economy.
The government plans to assess the impact of the crisis on households, businesses, and energy security.
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It is expected that the economic impact on families and businesses, energy security, and the international response will be considered
— reported the Ministry of Finance.
Economists warn that due to rising energy prices, inflation in the UK could rise again to 5%.
Financial markets are already reacting
Investors are recording a worsening situation — the yield on 10-year government bonds exceeded 5% for the first time in almost 20 years. This indicates a growing distrust of the country's financial stability.
The government is considering targeted support for the population, but large-scale measures are not yet planned, despite growing pressure due to rising energy prices.
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