Young people in UK hit by ‘low-gear economy’, warns Bank of England deputy

<p>Exclusive: Iran war has fuelled energy price rise and clouded outlook, driving up unemployment, says Clare Lombardelli</p><p>Young people in Britain are bearing the brunt of a “low-gear economy” as employers hold back from hiring amid the fallout from the war in the Middle East, a deputy governor of the <a href="https://www.theguardian.com/business/bankofenglandgovernor">Bank of England</a> has warned.</p><p>Clare Lombardelli, the Bank’s deputy governor for monetary policy, said the unfolding conflict, which has triggered a surge in energy prices and clouded the outlook for the economy…

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