The attacks on Iran are estimated to be costing the United States around a billion dollars per day. But the cost to the global economy could be far higher.

The IMF and OECD have already warned of higher inflation and slower growth, and the interest rate cuts across the world many economists had been hoping for this year now look almost impossible.

So what exactly are the likely long-term costs of this conflict? And who will end up paying the price?

On this edition of The Agenda, Juliet Mann considers those questions along with Dr Frédéric Schneider, Senior Fellow at the Middle East Council on Global Affairs, Vicky Pryce, Chief Economic Advisor at the Centre for Business and Economic Research and Dr. Gerard Lyons, economist and senior independent director on the board of Bank of China.

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