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UK recession fears grow if Hormuz remains closed, forecaster warns
Britain's economy may shrink in 2027 if the Strait of Hormuz closure continues. Forecasters predict a 0.2% contraction if the waterway remains shut until mid-2027. This scenario would also increase inflation to 6.4% by the end of 2026. However, reopening the strait by September improves this year's forecast to 0.8%. EY expects interest rates to be cut next year after holding them steady.
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independent.co.uk
UK ‘at risk of recession’ if Strait of Hormuz remains closed into 2027
EY’s latest economic outlook also warns that inflation could rise to 6.4% as oil and gas prices soar
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cityam.com
Iran war could ‘halt growth’ across UK economy
Big Four consultancy EY has said that the UK economy could perform better than first expected this year if the Strait of Hormuz re-opens.
