BoE Warns Iran War Could Push UK Inflation Above 4% Amid Energy Price Surge

Bank of England Governor Andrew Bailey stated that inflationary pressures persist in the UK economy, with energy prices potentially rising further next year if the Iran conflict continues. The conflict has already triggered a surge in oil prices and fueled global inflation concerns, with Bailey noting inflation risks are "to the upside." This sustained geopolitical risk and potential for higher energy costs could support gold as a safe-haven asset and inflation hedge, while also potentially influencing global risk sentiment and the US Dollar.

بحوالہ / Source: oilprice.com