The UK's real GDP grew by 0.6% quarter-on-quarter at the start of the year.

The war in Iran is expected to cause a stagflationary shock to the UK economy due to rising energy costs.

Anna Andrade expects the Bank of England to keep interest rates unchanged at its upcoming meeting.

UK headline inflation is forecast to be 1.5 percentage points higher by the start of next year compared to pre-war forecasts.

The economic outlook for the UK is gloomy for the coming quarters, with an expected stagflationary shock due to the Iran war and rising energy costs.

The UK economy experienced strong growth at the start of the year, with real GDP increasing by 0.6% quarter-on-quarter.

Bloomberg Economics has revised its UK headline inflation forecast to be 1.5 percentage points higher by the start of next year due to the war in Iran.

The vote split on the Bank of England's Monetary Policy Committee is expected to shift, with Hugh Pill, Megan Green, and Catherine Mann potentially favoring a rate hike.

The Bank of England is expected to keep interest rates unchanged at its upcoming meeting.