On Tuesday, President Donald Trump pulled the United States out of the Iran nuclear deal which was first struck by Trumps predecessor President Obama in 2015. Trump announced he believed Iran was lying about its nuclear development plans and as such would be imposing the highest level of economic sanctions on Iran. Analysts predict this will be aimed at Iran’s oil exports which have only recently become competitive on the global stage, unsurprisingly this announcement caused the price of crude to spike at $75 per barrel. Despite European leaders vowing to uphold the agreement with Iran this development could throw the Middle East into further conflict and further uncertainty.
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Bank of England hold rates steady
Bank of England hold rates steady