When the US and Iran announced a deal to end the war, oil prices plummeted to $83 a barrel, having sat above $90 a barrel since early March.
This is likely to reduce inflationary pressure here in the UK meaning decision makers at the Bank of England are less likely to plough ahead with the two rises to the interest rates the markets had expected. Sarah Coles, head of personal finance at AJ Bell, explained if the peace process is successful, rate expectations will change.
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