finance
HSBC warns Iran conflict is denting global economic confidence
Bank executives and business leaders told an HSBC summit the Iran war is already eroding confidence and driving higher energy and commodity costs that threaten growth.
Apr 14th 2026 · United Kingdom
Insights
- HSBC chief Georges Elhedery said the Middle East conflict is starting to weigh on general business confidence.
- Higher energy and commodity costs cited as channels for wider global impact, including oil, refined products, fertilisers and metals.
- Brent crude briefly rose above $100 a barrel before falling to about $98.5 a barrel amid a US blockade on Iranian ports.
- HSBC has a 31% stake in Saudi Awwal Bank and the Middle East accounts for roughly 4% of its pre-tax profit.
- Some Middle East investors are exploring relocation while the bank has seen only limited capital outflows so far.
- Companies from textiles to airlines report cost and supply disruptions, with polyester costs up 10 to 15% and jet fuel more than double prewar levels.
- UK chancellor Rachel Reeves called for coordinated international economic action at IMF and World Bank meetings.
Sources
- ‘Economic Terrorism’ Vance Warning, HSBC CEO On War Impact www.bloomberg.com
- Iran war briefing: Vance accuses Tehran of ‘economic terrorism’ amid Strait of Hormuz blockade www.independent.co.uk
- HSBC says Iran war is hitting confidence as businesses warn over economic risks www.theguardian.com
- UK ‘headed for stagflation’ as economy flatlines and inflation bites due to Iran war www.independent.co.uk
- Malaysians urged to tighten their belts as Iran war fallout starts to bite www.scmp.com
- IMF cuts China’s GDP growth forecast to 4.4% as Iran war pressures global economy www.scmp.com
- UK faces biggest hit to growth from Iran war of major economies, IMF says www.bbc.com
- UK economic growth forecasts slashed as IMF says Iran war risks global recession www.independent.co.uk
- Trump’s Iran war could trigger global recession, IMF warn www.independent.co.uk
- Iran war already taking a toll on the global economy, IMF says in new forecast www.washingtonpost.com
- IMF cuts growth forecasts for Asia's emerging economies, blames Iran war asia.nikkei.com
- Iran war could slow global growth to weakest since pandemic, IMF warns www.ft.com
- UK economic growth forecasts slashed as IMF says Iran war risks global recession www.independent.co.uk
- Iran war creates an emerging economy emergency www.ft.com
- IMF cuts West Asia, North Africa growth forecast to 1.1% over Iran war www.thehindu.com
- Citing fallout from the Iran war, IMF cuts the outlook for global growth, expects higher inflation www.independent.co.uk
- IMF warns of potential global recession if Iran war worsens in latest economic outlook report www.jpost.com
- Iran war escalation could trigger global recession, IMF warns www.theguardian.com
- Citigroup upgrades the U.S. stock market, citing 'eventual cessation' of U.S.-Iran war www.cnbc.com
- IMF cuts growth outlook, warns of potential global recession if Iran war worsens www.channelnewsasia.com
- How war in Iran could push the world into a global recession www.independent.co.uk
- UK Faces Worst Growth and Price Hit from Iran War, IMF Says www.bloomberg.com
- IMF Cut Global Growth to 3.1%, Flags Downturn Risk If War Lasts www.bloomberg.com
- Iran war will hit UK growth the hardest of any rich economies, IMF says www.cnbc.com
- War threatens to wreak havoc with the global economy, IMF warns www.politico.eu
- Boost for India! IMF raises GDP growth forecast to 6.5% despite Iran war timesofindia.indiatimes.com
- J.P. Morgan Sees Resiliency in U.S. Economy Despite Iran War www.nytimes.com
- US and Iran Weigh Talks, Lagarde Warns on Economic Impact, More www.bloomberg.com
- UK economy faces hardest hit of G7 from Iran war says IMF as growth forecast cut www.independent.co.uk
- Iran war: IMF slashes global growth forecast www.dw.com
- IMF warns about risk of global recession as Iran war impacts energy costs www.cbsnews.com
- UK economy faces hardest hit of G7 from Iran war says IMF as growth forecast cut www.independent.co.uk
- IMF drops Eurozone's economic growth forecast to 1.1% from 1.4% amid Iran war www.euronews.com
- US, Iran Pursue 2nd Round of Talks, IMF Warns of Downturn, More www.bloomberg.com
- IMF cuts global growth forecast during Hormuz blockade www.aljazeera.com