6:55 am, March 20, 2026
Interest rate cuts not on the horizon, Bank of England governor says
Reopening the Strait of Hormuz is ‘the best thing to do’ to prevent interest rates rising, Bank of England governor Andrew Bailey has said.
In an interview on Thursday evening after the Bank’s Monetary Policy Committee (MPC) voted unanimously to leave the rate unchanged at 3.75%, Mr Bailey said any further cuts are ‘not on the horizon’ as he hinted at possible hikes.
It is the first time that all members have voted the same way since September 2021.
Gas prices soar as Shell plant damaged in attack on Qatar energy site
Gas prices have soared to a three-year high and oil prices spiked after attacks on energy sites in Iran and Qatar damaged a Shell plant and stoked fears about disruption to global supplies.
US President Donald Trump said he did not authorise the targeting of energy facilities but threatened to ‘massively blow up’ a key Iran gas field in retaliation if it continues its attacks.
UK natural gas prices spiked by more than 20% on Thursday morning to around 172p per therm, which is a unit of heat energy – the highest in three years.
Seat and Cupra Ateca removed from sale after 10-year run
Seat and Cupra will no longer sell the Ateca SUV in the UK.
The Ateca was first introduced to the Seat range back in 2016, where it entered the SUV segment, which was rising in popularity. It was one of the first cars that Cupra produced when it became a standalone brand separate from Seat, too.
Originally available with a range of petrol and diesel engines, the Ateca could also be specified with four-wheel drive.
Yesterday at Car Dealer Live
Car Dealer Live as it happens: Breaking news from the motor trade conference today
Read everything as it happened throughout the day at the British Motor Museum.
Incentives – not barriers – to EV adoption are needed, says Peugeot MD Nicola Dobson
Nicola Dobson urged the UK government to better support EV adoption, warning proposed ‘pay per mile’ charges risk deterring buyers. Speaking at Car Dealer Live, she said electrification targets outpace current consumer demand.
Bravery or recklessness? Sohib Ghafouri on the dilemmas of starting out in the motor trade
Sohib Ghafouri told Car Dealer Live there is a ‘fine line between being brave and reckless’ when starting a dealership, reflecting on growing Infinity Motors from a small London site into a thriving business.
Stocks close down as oil rises and gold retreats
Stock prices in London and Europe closed firmly in the red on Thursday as markets continued to track developments in the Iran war, and digest this week’s interest rate decisions so far.
The FTSE 100 index closed down 241.79 points, 2.4%, at 10,063.50. The FTSE 250 was down 520.73 points, 2.4%, at 21,560.04, and the AIM all-share was down 25.36 points, 3.4%, at 727.85.
In European equities on Thursday, the CAC 40 in Paris closed down 2.0%, while the DAX 40 in Frankfurt ended down 2.8%.
Meningitis outbreak: Students turned away for vaccines in Kent
More than 100 students in Kent have been turned away while trying to get a meningitis vaccine after officials closed the queue.
The University of Kent said it had closed the vaccine queue on its Canterbury campus ‘due to capacity’ because it needed to finish the clinic by 5pm.
More than 100 people who had been waiting for a jab were turned away, according to Press Association estimates of the queue size.
Weather outlook…
The UK will enjoy a fairly settled and mild early-spring day today. In the south, expect sunshine with some cloud and temperatures around 13–14 °C. The Midlands will be bright with variable cloud and highs near 12–13 °C.
Further north and into Scotland, it will be cooler with more cloud but largely dry, with temperatures around 9–11 °C.
Overall, conditions will feel calm, dry and pleasantly mild, with light winds and only limited cloud cover across most regions.
