Lloyds takes £151m hit from Iran war as it forecasts rise in UK unemployment

Bank expects its base case for GDP growth to be 0.5% this year, lower than IMF’s 0.8% prediction for Britain Business live – latest updates Lloyds has warned that the economic fallout from the Middle East conflict could cost it £151m amid rising unemployment and inflation and a slowdown in the housing market. The FTSE 100 group, whose brands include Lloyds Bank, Halifax and Bank of Scotland, issued a downbeat economic forecast that it said reflects the stagflationary consequences – the doub...

By Mark Sweney