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Story summary
- The Organization for Economic Cooperation and Development (OECD) says the war in the Persian Gulf downgrades the United Kingdom's 2026 GDP forecast by 0.5 percentage point.
- Higher energy prices strain living standards as the United Kingdom relies on energy imports.
- In Europe, the conflict slows growth and raises inflation, prompting countries to adjust expectations.
- Central banks may raise rates to curb inflation, while businesses face higher costs.
