6:28 am, April 27, 2026
Bank of England set to hold interest rates despite Iran war pushing up inflation
Bank of England policymakers will ‘almost certainly’ hold interest rates at 3.75% at their meeting next week despite the Iran war pushing up the cost of living, economists have said.
However, experts have said a future interest rate increase could still be a possibility if firms and households continue to face inflationary pressure.
The Bank of England’s nine-strong Monetary Policy Committee (MPC) will vote on whether to maintain, increase or decrease its base interest rate on Thursday, April 30.
Price pressures could last for eight months after Iran war ends, minister warns
The British public could be hit with higher prices due to the war in Iran until eight months after the conflict ends, a minister has suggested.
The closure of the Strait of Hormuz, a key shipping lane that once carried a fifth of global oil and gas, has sent oil prices soaring since the US-Israeli war on Iran began.
Chief secretary to the prime minister Darren Jones said the conflict will likely continue to raise prices for energy, food and flight tickets in the coming months, as potential issues around energy supplies affect production, rather than lead to shortages on supermarket shelves.
Porsche reveals sleek Cayenne Coupe Electric
Porsche has used this year’s Beijing Auto Show to reveal the sleek Cayenne Coupe Electric.
Its exterior dimensions are the same length as the SUV, but has a 24mm lower roofline, which reduces drag and helps improve efficiency with Porsche claiming the car can travel up to a claimed 415 miles in entry-level guise – that’s 18 miles more than on the standard model.
Underneath, the car is hooked up to a 113kWh battery pack and there will be three models to choose from: Cayenne Coupe Electric, S and Turbo.
The markets
The FTSE 100 ended the week on the back foot as the crisis in the Middle East remained deadlocked.
The FTSE 100 closed down 77.93 points, 0.8%, at 10,379.08. The FTSE 250 ended down 181.71 points, 0.8%, at 22,582.81, while the AIM All-Share fell 5.73 points, 0.7%, to 796.40.
The pound eased to 1.3497 dollars on Friday afternoon from 1.3500 dollars on Thursday. Against the euro, sterling fell to 1.1532 euros from 1.1551 euros.
King’s state visit to ‘proceed as planned’ after foiled Trump assassination bid
The King’s US state visit programme will ‘proceed as planned’ following discussions on both sides of the Atlantic after what the White House has called the attempted assassination of president Donald Trump.
Charles and Camilla’s security arrangements were discussed in the wake of Saturday’s violent incident at a Washington media dinner where Trump, the first lady and senior figures from his administration were bundled from the room by the secret service after shots were fired.
It is understood there will be some modest operational adjustments to one or two royal engagements during the trip but the overall plan remains as previously outlined.
Latest on Car Dealer
Former World Record holding used car dealership Cargiant begins process of shutting for good
Cargiant – formerly one of the most profitable used car supermarkets in the UK – will today enter a ‘managed wind-down’ of operations prior to closing its doors for good.
Duckworth Motor Group agrees to buy Group 1 Jaguar Land Rover dealership in Norwich
The future of Group 1’s Norfolk Jaguar Land Rover sites has been revealed as the car dealer continues to sever ties with the manufacturer.
Number of cars on British roads reaches record levels as motorparc tops 42.5m
The number of vehicles on British roads has reached record levels, with 42.5m now making up this country’s motorparc.
Weather
Variable cloud across most areas today, with sunshine in the south, reports BBC Weather. Showers affect the north-east and parts of eastern and southern England later.
Tonight, early rain in the south-east clears, leaving mostly cloudy skies in central and eastern regions, while other areas stay dry with some clear spells.
