6:53 am, February 5, 2026
Bank of England set to keep interest rates on hold as it faces ‘balancing act’
The Bank of England is expected to hold interest rates at 3.75% as policymakers face a ‘balancing act’ of controlling inflation and supporting economic growth.
Most economists think the Bank’s Monetary Policy Committee (MPC) will opt to leave rates unchanged at its next decision on Thursday.
The MPC delivered a cut to borrowing costs before Christmas, from 4% to 3.75%, marking the fourth reduction of the year. Since that decision, official data has shown that inflation bounced back in December, rising for the first time in five months.
Tesco overtakes Asda to be named cheapest supermarket for a big shop
Tesco overtook Asda as the UK’s cheapest supermarket for a big shop in January, Which? has reported.
Tesco took the title for the first time since December 2024 after Which? found that customers with a Clubcard could buy a list of 228 items for £588.96 – £1.45 cheaper than Asda.
Waitrose was also the most expensive supermarket for a smaller list of items, with this at £221.53 on average – £56.79 or 34% more than Aldi.
Volkswagen Transporter gains ‘Sportline’ and ‘Commerce Pro S’ trims
Volkswagen has announced two new trim levels for the Transporter van with the introduction of ‘Sportline’ and ‘Commerce Pro S’ models, along with a limited-run ‘Sportline 75 Special Edition’ model to celebrate 75 years of the Transporter.
The Sportline, priced from £62,752, gets sports front and rear bumpers, a gloss black grille, badges and mirror caps, sports side skirts, roof rails, 19-inch alloy wheels and 29mm lowered suspension. The Commerce Pro S, from £53,086, brings more standard kit to the range, with the addition of gloss black 17-inch alloy wheels, a body-coloured front splitter, extended rear spoiler, angular side bars and gloss black front grille.
Limited to 75 units, the ‘Sportline 75 Special Edition’ gets exclusive ‘Moss Green’ paint, bespoke contrasting green stitching on its seat upholstery and steering wheel and ‘Sportline 75’ badges.
The markets
The FTSE 100 surged to a fresh high on Wednesday, spurred by strong trading updates and as insurer Beazley said it has accepted a possible £8 billion bid.
The FTSE 100 index closed up 87.75 points, 0.9%, at 10,402.34, a new record close. It had earlier set a new intra-day high of 10,481.54. The FTSE 250 ended up 42.78 points, 0.2%, at 23,333.15, and the AIM All-Share closed down 3.98 points, 0.5%, at 814.35.
The pound was quoted lower at 1.3656 dollars at the time of the London equities close on Wednesday, compared to 1.3695 dollars on Tuesday. The euro stood lower at 1.1798 dollars, against 1.1818 dollars. Against the yen, the dollar was trading higher at 156.69 yen compared to 155.73 yen.
MPs back release of files on Mandelson appointment as US ambassador
MPs have approved the release of documents relating to Lord Peter Mandelson’s appointment as British ambassador to the United States.
It comes after the prime minister backed down from his original plans for top civil servant Sir Chris Wormald to decide which documents could not be released on national security grounds or because they could prejudice international relations.
Under pressure from Labour MPs, led by former deputy prime minister Angela Rayner, Sir Keir Starmer accepted the decision could be made by Parliament’s Intelligence and Security Committee (ISC) instead. However, a minister told the House the documents would not be released immediately after a request from the Metropolitan Police.
Early detection cancer tests ‘could be part of NHS screening within a decade’
Early detection tests that pick up multiple cancers and innovative breath tests could become part of NHS screening within a decade, the Government has said.
A new 10-year national cancer plan for England says blood, urine and saliva tests – such as those able to pick up signals of more than 50 cancers before symptoms appear – have the ‘potential to transform and modernise’ diagnosis.
Health secretary Wes Streeting outlined ambitions set down in the plan, including for 75% of patients diagnosed from 2035 to be cancer-free or living well after five years, up from 60% at the moment.
Wednesday on Car Dealer
TikTok: Car dealers should encourage everyone to create video content
More car buyers are shortlisting their next vehicles using the social media platform TikTok – but dealers are lagging behind on content creation.
Does anyone really know what they’re doing when it comes to using AI?
Car dealers attending this year’s NADA convention in Las Vegas will find AI topics rippling through the halls and speeches as the industry attempts to make sense of it.
Chinese carmaker Chery green lights plan to add fourth brand to UK – meet Lepas
Chery will launch its Lepas brand in the UK this year, confirming news leaked to Car Dealer in April 2025.
Car dealer finally wins legal fight against customer who exploited distance-selling loophole
A used car dealership has finally won a long-running legal battle against a customer who repeatedly exploited distance-selling rules, after his final appeal was rejected.
Keyloop tweaks leadership team with appointment of Michael Cox as new COO and CFO
Automotive technology exerts Keyloop have confirmed the appointment of a new chief financial officer and chief operating officer.
Video: Used car demand surges in January, driving up retail prices by 0.9%
Used car prices surged in January as the market made a confident start to 2026, with dealers benefiting from healthy consumer demand.
Weather
Cloudy and breezy today with rain spreading north and west across the UK, occasionally heavy, and sleet or snow over northern hills, reports BBC Weather.
Tonight stays mostly cloudy, with further rain in eastern and southern areas. Western regions turn drier with a few clear breaks, while snow continues on northern hills and breezy conditions persist in the north.
