The ceasefire agreement between the US and Iran leads to a drop in oil prices, while the UK economic growth outlook improves.

Golden Ten Data reported on June 29 that while Bloomberg Economics has revised up its UK growth forecast for this year, it also stated that the decline in global oil prices is "absolutely good news" for the UK economy. The institution expects UK economic output to grow by 1.2% in 2026, up from its previous forecast of 0.8% made before the provisional peace agreement between the US and Iran. The latest official growth data for the three months ending in March will be released on Tuesday morning. Inflation is currently expected to stabilize at 3%, lower than the Dan Hanson team's earlier year-end projection of 3.5%. Economists pointed out that as inflationary pressures ease, as long as oil prices do not surge again, the Bank of England will be able to keep interest rates at 3.75%. If Brent crude remains just above $70 per barrel, "the discussion may quickly shift to the timing of further monetary policy easing."