Rachel Reeves warns of ‘upward inflationary pressure’ caused by Iran war

Evening Standard

The conflict in Iran is “likely to put upward pressure on inflation” over the coming months, Rachel Reeves has said.The Chancellor’s warning about the impact of America and Israel’s war with Tehran came after Prime Minister Sir Keir Starmer said the longer the war in the Middle East continues, the more likely it is there will be economic damage in the UK.

Transcript

00:00I'm clear-eyed about my response to the current situation. My economic

00:06approach will both be responsive to a changing world and responsible in the

00:12national interest. The economic impact of the situation in the Middle East will

00:18depend of course on its severity and its duration. The movements that we have

00:23already seen are likely to put upward pressure on inflation in the coming

00:27months. But I also want to confirm to the House that our financial markets are

00:31functioning and I'm in regular touch with the Governor of the Bank of England.

Category

Transcript

Comments

Recommended