Institute of Chartered Accountants in England and Wales survey showed the Iran war impacting UK business confidence with a quarterly survey declining to -1.1 from a previous +2.8

The survey from the Institute of Chartered Accountants indicates a significant drop in UK business confidence due to the Iran war, moving from a positive +2.8 to a negative -1.1. This decline suggests that geopolitical tensions are starting to weigh on economic sentiment, which could have implications for domestic consumption and investment; market participants might anticipate a cautious stance from policymakers if confidence continues to deteriorate.