NewzVille International
UK Prime Minister Keir Starmer will chair an emergency meeting on Monday to review the economic fallout from the ongoing war in Iran.
The meeting will be attended by Finance Minister Rachel Reeves, Bank of England Governor Andrew Bailey, Foreign Secretary Yvette Cooper and Energy Secretary Ed Miliband.
Along with assessing the economic impact of the crisis, leaders will also deliberate on energy security and the resilience of industry and supply chains, and review the international response.
Last week, the government announced a 53-million-pound support package for households that rely on heating oil.
However, calls for broader measures have increased concerns among bond market investors.
On Friday, British 10-year government borrowing costs rose above 5% for the first time since the global financial crisis nearly two decades ago.
Earlier, the central bank had stated that it stands ready to act to keep inflation aligned with its 2% target.
