6:50 am, March 21, 2025
UK interest rates held at 4.5% as Bank warns over US tariff uncertainty
The Bank of England has kept UK interest rates at 4.5%, as policymakers warned that uncertainty over global trade had intensified following new US tariffs.
Eight members of the Bank’s nine-person Monetary Policy Committee (MPC) voted to keep rates on hold on Thursday while they assess the impact of economic and political developments around the world.
‘Since the MPC’s previous meeting, global trade policy uncertainty has intensified, and the United States has made a range of tariff announcements, to which some governments have responded,’ the committee said in a summary of its latest decision.
Wage growth holds firm while vacancies rise for first time since mid-2022
UK earnings growth remained at its highest level since last April and vacancies rose for the first time in more than two-and-a-half years despite worries over incoming wage cost pressures on firms, official figures have shown.
The Office for National Statistics (ONS) said regular average wages growth was unchanged at 5.9% in the three months to January, staying at the highest level since the three months to April last year.
Wages outstripped Consumer Prices Index inflation by 3.2%, the ONS added.
Peugeot unveils motorsport-inspired Expert Sport van
Peugeot has revealed a new addition to the Expert van range with the motorsport-inspired ‘Sport’ variant.
The exterior features upgrades such as a body kit, side skirts, a front spoiler, a rear spoiler, 18-inch alloy wheels and ‘Sport’ livery that runs down the side profile.
Inside, there is leather upholstery with ‘Sport’ logos embossed into the seats and the material itself is scratch proof, acid, alkali and tear-resistant.
Thursday on Car Dealer
Used car dealers have ‘unique opportunities’ in 2025 despite stock headaches – Auto Trader
Used car dealers face stock challenges but have unique opportunities in 2025, says Auto Trader. Speaking at Car Dealer Live, COO Catherine Faiers highlighted robust demand, supply shortages, and the growing importance of omnichannel retailing. Dealers must adapt to evolving consumer behavior and electric vehicle trends to stay competitive.
Used car salesman fined over £2m for unpaid tax bill as HMRC names and shames defaulters
A well-known used car dealer has been fined £2.14m for dodging over £3m in tax. HMRC’s latest list of defaulters reveals major penalties across the motor trade, highlighting the government’s crackdown on tax avoidance in the sector. Dealers face increasing scrutiny and tough consequences.
Dacia looks to supersize sales with Bigster – but name might take some ‘getting used to’
Dacia’s new Bigster SUV has already secured 300 UK orders, with 90% choosing the top-spec model. Priced from £24,995, it rivals the Kia Sportage and Nissan Qashqai. Deliveries start in May, with road tests publishing on March 27.
European stocks drop as investors digest central bank warnings
European stock markets moved lower on Thursday, while a more positive mood across the pond weakened as investors digested comments from central banks in the UK and the US.
Another muted day of trading for London’s FTSE 100 saw the index dip 4.67 points, or 0.05%, to close at 8,701.99.
But it was still a stronger performance than European peers on Thursday, with France’s Cac 40 declining 0.95%, and Germany’s Dax dropping 1.24%.
Safety regulators recall nearly all Cybertrucks in latest blow to Tesla
US safety regulators have recalled nearly all Cybertrucks on the road, the eighth recall of the Tesla-made vehicles since deliveries to customers began just over a year ago.
The National Highway Traffic Safety Administration (NHTSA) recall, which covers more than 46,000 Cybertrucks, warned that an exterior panel that runs along the left and right side of the windscreen can detach while driving, creating a hazard for other drivers, increasing the risk of a crash.
The stainless steel strip, called a cant rail assembly, between the windscreen and the roof on both sides, is bound to the truck’s assembly with a structural adhesive, the NHTSA report said.
Heathrow closed all day following electrical substation fire
More than 1,300 flights to and from Heathrow Airport will be disrupted on Friday due to the closure of the airport following a fire at a nearby electrical substation.
Thousands of homes have been left without power and more than 100 people were evacuated after a transformer within the North Hyde electrical substation caught fire in west London.
The airport, which is supplied by the substation, said it was among those impacted by the power outage.
Weather outlook…
The UK will today experience a mix of cloudy and sunny intervals.
Temperatures are expected to reach highs between 15°C and 18°C, with lows around 9°C to 11°C. While most regions will remain dry, some areas, particularly in the southwest and northwest, may encounter brief showers.
Overall, anticipate mild conditions with light to moderate winds across the country.
