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UK Finance Minister meets banks on Middle East conflict

Rachel Reeves met major lenders today to assess Middle East conflict risks. Banks will contact 1.6 million mortgage holders to offer support as costs rise.

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Chancellor Rachel Reeves convened the six largest banks and building societies in the United Kingdom on Thursday to evaluate how the ongoing conflict in the Middle East is affecting households and small businesses. This meeting follows earlier warnings from Reeves regarding the economic risks posed by rising energy costs and her pledge to manage the resulting market volatility.

British Chancellor Rachel Reeves addresses the House of Commons regarding the economic implications of the Middle East conflict in London, March 24, 2026. © House of Commons/Handout via REUTERS
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