UK Faces Worst Hit From War Among Major Economies, OECD Warns

Britain will suffer a bigger economic hit from the Iran war than any other Group of Seven nation this year as growth weakens, inflation accelerates and interest-rate cuts are abandoned, the Organization for Economic Cooperation and Development warned.

The Paris-based think tank lowered its UK growth forecast to 0.7% from 1.2% in December and increased its inflation projection to 4% from 2.5%. While its global forecasts also worsened, no other G-7 country saw as sharp a downgrade.