6:33 am, June 16, 2025
UK interest rates predicted to stay at 4.25% with Bank ‘nimble’ amid uncertainty
UK interest rates are set to stay at 4.25% after inflation jumped in April and policymakers remain ‘nimble’ to the evolving economic backdrop, economists have predicted.
Most economists think the Bank of England’s Monetary Policy Committee (MPC) will opt to keep rates on hold when it meets on Thursday.
The MPC has voted to cut rates at every other meeting since it started easing borrowing costs last August, from a peak of 5.25%.
Minister ‘hopeful’ for ‘positive’ announcement on Grangemouth soon
The UK’s energy minister has said he is ‘hopeful’ that an announcement on investment in Grangemouth will come soon.
Michael Shanks said more than 80 potential investors had come forward since the UK government pledged £200m for the site.
The UK government is looking for another £600m from private investment in the area, following the closure of Scotland’s last oil refinery there. More than 400 jobs were lost.
Peugeot’s E-208 GTi released to shake up the hot-hatch segment
Peugeot has revived its famous GTi nameplate with the new E-208 GTi.
Arriving as the first electric GTi, the new model gets a dynamic exterior design with wider wheelarches which help to accommodate a broader track (56mm wider at the front and 27mm at the rear), while a front spoiler and rear diffuser have been fitted to increase aerodynamic efficiency. The car sits 30mm lower, and has upgraded springs and shocks.
At the heart of the E-208 GTi is a single electric motor with 276bhp and 345Nm of torque, enabling a 0-60mph time of 5.5 seconds and a top speed of 112mph. The 54kWh battery – optimised for performance driving – promises a range of 217 miles, while a full charge from a 7.4kWh home charger should take just under five hours.
The markets
The oil price soared and stocks slumped on Friday after Israel launched dozens of air strikes against Iran, ramping up tensions in the Middle East.
The FTSE 100 index closed down 34.29 points, 0.4%, at 8,850.63. The FTSE 250 ended 237.33 points lower, 1.1%, at 21,149.36, and the AIM All-Share lost 4.45 points, 0.6%, at 761.43.
The pound was quoted higher at 1.3591 dollars at the time of the London equities close on Friday, compared to 1.3586 dollars on Thursday. The euro stood lower at 1.1560 dollars against 1.1575 dollars. Against the yen, the dollar was trading at 144.01 yen, up compared to 143.71 yen.
Starmer: G7 will discuss Russia sanctions if Putin holds out on ceasefire talks
G7 allies will discuss the prospect of more sanctions on Russia unless Vladimir Putin comes to the table for peace talks, Sir Keir Starmer has said.
The prime minister said targeting Moscow with further action would ‘undoubtedly’ form part of talks at the international summit this week if the Kremlin continues to resist calls for an unconditional ceasefire.
Ukrainian president Volodymyr Zelensky is expected to attend the conference in Canada, where leaders from the world’s major economies are descending on a luxury mountain lodge in the Rockies for talks on global security.
First female chief to take reins of secret service MI6
The first ever female head of MI6 has been announced by Sir Keir Starmer to lead Britain’s secret service in the face of an ‘unprecedented scale’ of threats faced by the UK.
Blaise Metreweli, a career intelligence officer who currently serves as director of technology at the organisation, will become the 18th chief in the organisation’s 116-year history. She will take over from Sir Richard Moore, who will step down in the autumn after five years in the role.
Despite Dame Judi Dench playing M, the fictional head of the secret service in the James Bond films, there has never been a woman in charge of the organisation in real life.
Latest on Car Dealer
Ancaster Group expands Nissan representation with new Surrey dealership
Ancaster has opened a new Nissan showroom in Epsom, expanding its long-standing partnership with the brand. The site offers new and used cars, servicing, and EV facilities. It strengthens Ancaster’s Surrey presence and highlights its 53-year relationship with Nissan.
Budget SUVs made car dealers strong money in May while BMW was most profitable brand
Budget SUVs delivered strong dealer profits in May, with the Hyundai Tucson topping sub-£10k margins at £2,700. BMW was the most profitable brand overall. Above £10k, Land Rover led with the Discovery Sport. Demand for used cars remains high.
Government pledges 100,000 new on-street EV chargers through £381m package
Ministers have pledged £381m to support 100,000 new EV charging points across England, aiding drivers without home chargers. This adds to 80,000 existing public chargers. EDF also plans full ownership of Pod Point, citing stability amid slow EV uptake and growing competition.
Donnelly Group directors ‘happy’ with 2024 results ahead of busy 12 months of expansion
Donnelly Group’s turnover rose to £330.41m in 2024, but pre-tax profit dipped slightly to £4.85m. New car sales jumped 22%, and used sales rose 6%. A £7m VW Group expansion is planned, with profitability in early 2025 meeting expectations.
Weather
Today, England and Wales will see sunny spells and mainly dry conditions, reports BBC Weather, with topping 26 degrees. Western Scotland will be cloudy with light showers, turning to heavier rain later. Elsewhere, variable cloud and breezy in the north.
Tonight, rain spreads across Scotland and Northern Ireland, while England and Wales remain largely clear and dry.
