Iran war escalation could trigger global recession, IMF warns

UK suffers sharpest downgrade and is predicted to face joint highest inflation in G7 as growth forecasts are cutBusiness live – latest updatesA further escalation in the Iran war could trigger a global recession, spiralling inflation and a sharp backlash in financial markets, the International Monetary Fund has warned.Against an increasingly volatile backdrop, the Washington-based fund said the economic damage from the Middle East conflict was steadily rising as it cut its growth forecasts for 2...