Economy

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UK Unemployment Rises to 5% Amid Iran War Impact

The UK unemployment rate rose slightly to 5% in the three months ending March, up from 4.9% in February, according to data released by the Office for National Statistics (ONS). This increase is attributed to the initial impact of the Iran war on businesses, which has led to a significant drop in job

May 19, 4:08 AM ET Est. Read: 3 Mins

5 articles from 4 publishers

EconomyEconomicGrowth

IMF Raises UK Growth Forecast but Warns of Risks

The International Monetary Fund (IMF) has upgraded its forecast for UK growth this year from 0.8% to 1% , citing stronger-than-expected first-quarter performance led by retail and construction sectors, according to reports from BBC, Reuters, The Guardian, and CNBC. The IMF's latest assessment high

May 18, 7:51 AM ET Est. Read: 2 Mins

4 articles from 4 publishers

EconomyGrowth

UK Economy Grows Despite Iran War

The UK economy grew by 0.6% in the first quarter of 2026, defying expectations amid the ongoing Iran war, according to figures from the Office for National Statistics (ONS). The growth was driven by a rebound in retail and construction sectors. March saw a surprise 0.3% growth , contradicting foreca

May 14, 3:32 AM ET Est. Read: 1 Mins

4 articles from 4 publishers

More Economy Summaries

Inflation

US Inflation Hits 3.8% in April

US inflation surged to 3.8% in April, marking the highest annual increase since May 2023. This rise was primarily driven by soaring energy costs due to the ongoing war with Iran and the closure of the Strait of Hormuz, a critical shipping lane for oil and gas. The national average price for a gallon

May 12, 9:10 AM ET·2 min read

14 articles from 9 publishers

Labor

U.S. Adds 115K Jobs in April, Beating Expectations

The U.S. labor market showed resilience in April, adding 115,000 jobs , significantly surpassing economists' expectations of around 62,000-70,000. The unemployment rate remained steady at 4.3% , according to the Bureau of Labor Statistics report. The job growth was concentrated in sectors like healt

May 8, 9:02 AM ET·2 min read

10 articles from 6 publishers

Inflation

Gas Price Surge Widens Economic Gap Between Income Groups

Spiking gas prices following the Iran war have exacerbated economic disparities in the US, with lower-income households reducing consumption but still spending more on fuel. According to a report from the Federal Reserve Bank of New York, higher-income groups increased their gas spending by 19% , wh

May 7, 4:37 PM ET·2 min read

5 articles from 4 publishers

MarketsCONFLICTING REPORTS

RBA Raises Interest Rates to 4.35%, Cites Inflation

The Reserve Bank of Australia (RBA) raised its official cash rate to 4.35%, marking the third increase this year and undoing all three rate cuts made in 2025. The move aims to combat inflation, which is expected to peak at near 5% over the next few months due to global conflicts and domestic economi

May 5, 1:06 PM ET·2 min read

9 articles from 3 publishers

MonetaryPolicy

Fed Divided as Iran War Fuels Inflation Concerns

The Federal Reserve is deeply divided over monetary policy as the Iran war continues to disrupt global energy markets and fuel inflation concerns. The conflict has closed the Strait of Hormuz, a critical chokepoint for 20% of global oil and gas supplies, leading to surging energy prices worldwide. A

May 3, 5:44 PM ET·2 min read

21 articles from 3 publishers

Policy

ECB Holds Rates but Signals June Hike Amid Inflation Surge

The European Central Bank (ECB) maintained its interest rates at 2% on Thursday, May 1st, but indicated that rate hikes may be necessary soon due to persistent inflation and economic uncertainty. Inflation in the eurozone surged to 3% in April, up from 2.6% in March, driven by rising energy prices a

May 2, 11:46 PM ET·2 min read

14 articles from 3 publishers

Markets

Inflation Gauge Hits 3-Year High as Iran War Drives Gas Prices

A key inflation measure monitored by the Federal Reserve surged sharply in March as gas prices soared due to the Iran war, pushing up living costs and delaying potential interest rate cuts. According to multiple reports, the inflation gauge increased 0.7% from February, with annual prices rising 3.5

May 1, 3:42 PM ET·2 min read

5 articles from 4 publishers

Policy

Bank of England Holds Rates Amid Middle East War

The Bank of England maintained interest rates at 3.75% , citing uncertainty caused by the ongoing Middle East conflict and its impact on inflation, according to multiple reports. Inflation is expected to rise significantly due to higher energy prices stemming from the war. According to The Guardia

Apr 30, 10:46 AM ET·1 min read

10 articles from 5 publishers

Inflation

Iran War Drives U.S. Inflation to Multi-Year High

The Iran war has intensified concerns about U.S. inflation, driving the annual rate captured by the personal consumption expenditures (PCE) gauge above 3% for the first time in more than two years. The Cleveland Fed's 'nowcaster' estimates March 2025 inflation at 3.4%, significantly exceeding the Fe

Apr 30, 8:33 AM ET·2 min read

8 articles from 3 publishers

Inflation

Australia Inflation Hits Two-Year High

Australia's inflation rate surged to 4.6% annually in March, its highest level since September 2023, according to data released by the Australian Bureau of Statistics (ABS). The increase was primarily driven by a significant rise in fuel prices due to the ongoing conflict in the Middle East. The mon

Apr 29, 12:55 PM ET·1 min read

3 articles from 3 publishers

Economy

Canada Launches Sovereign Wealth Fund Amid Economic Challenges

Canada has launched its first sovereign wealth fund , known as the Canada Strong Fund. The government-owned investment vehicle will initially receive an endowment of C$25 billion ($18.4 billion) and aims to invest in major domestic projects across sectors such as energy, infrastructure, mining, agri

Apr 27, 3:58 PM ET·4 min read

8 articles from 3 publishers

Government

UK Borrowing Drops £20bn in Year to March

UK government borrowing fell by almost £20bn in the year ending March, according to official figures from the Office for National Statistics (ONS). The total borrowing of £132bn was slightly below the £132.7bn forecasted by the Office for Budget Responsibility (OBR), marking a significant reduction

Apr 23, 2:35 AM ET·1 min read

3 articles from 3 publishers

Trade

U.S. Considers Currency Swaps with Allies Amid Iran War

U.S. Treasury Secretary Scott Bessent announced on Wednesday that several allies in the Gulf region and Asia have requested currency swap lines from the United States to address financial instability caused by the ongoing war with Iran, according to multiple reports . These swap lines are intended t

Apr 22, 7:15 PM ET·2 min read

5 articles from 3 publishers

Inflation

UK Inflation Hits 3.3% Amid Iran War Fuel Price Surge

UK consumer price inflation rose to an annual rate of 3.3% in March, up from 3.0% in February, according to official figures published by the Office for National Statistics (ONS). This increase marks the first significant impact on prices from the ongoing war in the Middle East. The rise was driven

Apr 22, 3:07 AM ET·2 min read

16 articles from 6 publishers

Markets

China's Q1 Growth Hits 5% Despite Iran War Fallout

China's economy expanded by 5% year-on-year in the first quarter of 2024, official data showed on Thursday, beating market expectations and marking an improvement from the three-year low growth rate of 4.5% in the fourth quarter. The National Bureau of Statistics (NBS) reported that industrial outpu

Apr 17, 7:34 PM ET·2 min read

13 articles from 3 publishers

Energy

ECB Prepared for Inflation Shock; EU Faces Jet Fuel Crisis

The European Central Bank (ECB) is well-positioned to manage the current inflation shock, according to board member Isabel Schnabel. The ECB successfully tamed the last inflation shock with minimal impact on growth, and sovereign spreads have narrowed in Europe over the past decade. However, policym

Apr 16, 10:35 AM ET·3 min read

13 articles from 3 publishers

Inflation

March Inflation Spike Hits Four-Year High

The largest monthly jump in gas prices in six decades caused a sharp spike in U.S. inflation in March, creating major challenges for the Federal Reserve and political difficulties for the White House. According to data from the Labor Department reported by PBS , consumer prices rose 3.3% year-over-y

Apr 10, 12:05 PM ET·2 min read

3 articles from 3 publishers

Markets

Pound Gains on US-Iran Ceasefire Hopes

The British pound has seen modest gains following the announcement of a two-week ceasefire between the United States and Iran, though traders remain cautious about its sustainability. The currency was last up 0.1% against the dollar at $1.3407. According to Reuters, Israel's continued strikes on Leb

Apr 9, 9:30 AM ET·2 min read

6 articles from 3 publishers

Policy

RBI Holds Rates Amid Middle East Crisis

The Reserve Bank of India (RBI) maintained its key policy rate at 5.25% on Wednesday, citing concerns over lower growth and higher inflation due to the ongoing Middle East crisis. The central bank warned that disruptions in oil supplies could impact economic momentum, reversing a previously stable '

Apr 8, 2:42 AM ET·5 min read

17 articles from 3 publishers

Jobs

US Employers Add 178K Jobs in March

U.S. employers added 178,000 jobs in March, rebounding from a revised loss of 92,000 jobs in February according to the Labor Department's report. The unemployment rate dipped slightly to 4.3% as the labor force shrank by 396,000 , reducing competition for available positions. The March gains exceede

Apr 3, 9:36 AM ET·3 min read

13 articles from 8 publishers

FinancialStability

ECB Warns of Financial Risks From Iran War

The ongoing U.S.-Israeli war on Iran has raised significant concerns about financial stability and economic risks, according to multiple reports. European Central Bank (ECB) Governing Council member Fabio Panetta warned that tensions in energy markets could lead to pressure on government bonds, espe

Apr 2, 10:01 AM ET·2 min read

13 articles from 6 publishers

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Economy

UK Unemployment Rises to 5% Amid Iran War Impact