Oil Shock Squeezes UK as Rate Decisions Loom and Brexit Reckoning Reopens

Oil prices surging past $100 a barrel have thrown the UK economy into a fresh crisis, with the Bank of England set to decide on interest rates this week against a backdrop of above-target inflation and rising mortgage costs. The Strait of Hormuz blockade and Red Sea shipping threats have created an energy shock that ripples directly into British households and the autumn budget calculus.

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