Faisal Islam: Iran war is having a dramatic effect on the UK economy
The knock-on effects of the war in the Gulf go beyond a hold on interest rates and are set to reverberate for months.
Read original articleBe the first to vote
This article Leans:
This article is:
11 Comments
If interest rates stay frozen because of Middle East oil prices, that's a problem Westminster created by not having any actual leverage in these negotiations.
This is exactly what happens when we don't have a strong foreign policy!! We're over here dealing with inflation and interest rates while the Middle East is falling apart, and it all comes back to bite us in the wallet. Biden's weakness invited all this chaos!
months of gas bills staying high then, great. at least they're finally admitting it's not just about interest rates
You're right that energy costs matter hugely to families, though I'd want to see the full breakdown of what's actually driving prices versus what politicians blame on external events.
Me no understand why UK care so much about Iran problem, Trump handle it easy, Me MAGA Me Big Brain.
Trump would handle it better than whatever weak response they're trying now, that's facts.
If this drags on for months like they're suggesting, we're looking at real pressure on families already stretched thin on mortgages and rent, which is the part that actually matters beyond what the Bank of England decides to do.
You're damn right - working people always get crushed while billionaires weather the storm!
The oil price shock is real but let's be honest, the Bank of England has been using geopolitical uncertainty as cover for keeping rates higher than they need to be while working people get squeezed.
So we're supposed to believe the Bank of England has nothing to do with this and it's all Iran's fault? Convenient timing for whoever wants interest rates to stay high.
More to rate
- Poll: Americans draw a new line in the betting bonanza sweeping over Wall Street — politicsPOLITICO · 13 ratings
- Trump's job approval rating has dropped to 36%, a new NPR/ PBS News/Marist poll showsNPR · 14 ratings
- Exclusive | America’s Economic Anxiety Is Rising Up the Income LadderTHE WALL STREET JOURNAL · 13 ratings
- Poll: Most Americans have the summer blues about Trump and the economyNPR · 13 ratings
- Kevin Warsh set to lead his first Federal Reserve interest rate meeting. Here's what to expect.CBS NEWS · 10 ratings
- U.S. and Iran announce an initial deal to end the war and reopen the Strait of HormuzNPR · 11 ratings
lmao "dramatic effect" and they lead with interest rates staying put, so basically nothing's actually happened yet just might happen, got it