6:17 am, September 18, 2025
UK interest rates set to be held at 4% as inflation ‘uncomfortably high’
UK interest rates are set to stay at 4% as policymakers hold back from easing borrowing costs while inflation remains elevated, experts have said.
Most economists are expecting the Bank of England to keep rates unchanged on Thursday.
It comes after new official data showed the rate of Consumer Prices Index (CPI) inflation was unchanged at 3.8% in August, remaining at the highest level since the beginning of 2024.
UK steel industry ‘disappointed’ after plans for 0% US tariff shelved
Britain’s steel industry has expressed disappointment in the move to shelve plans for the elimination of US tariffs on exports of the metal.
The UK has paused its push to cut the levy, which stands at 25%, to zero as originally agreed earlier this year, in a blow to the sector which is already reeling from major financial difficulties in recent years.
It is understood that Britain could have sought a small tariff-free quota for its steel exports to America as part of ongoing trade talks, but that this would leave the rest exposed to the 50% US global tariff faced by other nations.
One-off Rolls-Royce Cullinan Cosmos is inspired by space
Rolls-Royce has revealed a space-inspired one-of-one version of the Cullinan SUV with the Cosmos.
The exterior is finished off in Arabescato pearl paint, which refers to the moonlight over the midnight sky. There is an illuminated ‘Spirit of Ecstasy’ emblem on the bonnet and two hand-painted ‘Charles Blue’ coachline stripes that run down the sides of the car.
Inside, the Cullinan Cosmos is the first Rolls-Royce to feature a hand-painted Starlight headliner, which takes more than 160 hours to create and mimics the Milky Way. There is also a unique Star Cluster motif, found on the door cards and headrests and there is a hand-painted piece of artwork on the dashboard fascia in front of the passenger.
The markets
Stock prices in London closed in the green on Wednesday, following the Bank of Canada’s rate cut and ahead of the US Federal Reserve’s own announcement, at which its own reduction is expected.
The FTSE 100 index closed up 12.71 points, 0.1%, at 9,208.37. The FTSE 250 ended up 127.94 points, 0.6%, at 21,619.81, and the AIM All-Share closed up 3.99 points, 0.5%, at 771.86.
The pound was quoted higher at 1.3661 dollars at the time of the London equities close on Wednesday, compared to 1.3642 dollars on Tuesday. The euro stood at 1.1847 dollars, higher against 1.1837 dollars. Against the yen, the dollar was trading lower at 146.35 yen compared to 146.65 yen.
Trump pays tribute to America’s special relationship with the UK
President Donald Trump paid a heartfelt tribute to America’s relationship with the UK saying the word “special does not begin to do it justice”.
rump told the guests, who included media mogul Rupert Murdoch, gathered in Windsor Castle’s St George’s Hall: ‘Seen from American eyes the word special does not begin to do it justice.’
He went on to say: ‘We’re joined by history and faith, by love and language and by transcendent ties of culture, tradition, ancestry and destiny. We’re like two notes in one chord or two verses of the same poem, each beautiful on its own, but really meant to be played together.’
Talks to try to resolve Tube dispute to resume on Friday
Talks aimed at resolving a dispute which led to strikes on London Underground were held on Wednesday and will resume later in the week.
Members of the Rail, Maritime and Transport union walked out last week, paralysing Tube services which caused travel chaos for millions of passengers.
The union is seeking a cut in the 35-hour working week of its members.
Wednesday on Car Dealer
Nissan’s UK boss ‘very confident’ that Micra will help firm achieve ZEV Mandate targets
Nissan UK’s managing director, James Taylor, is ‘very confident’ that the new Micra will help the firm achieve stricter ZEV Mandate targets next year.
Used Car Awards 2025 – time is running out to nominate yourself for industry’s ‘Oscars’
Time is running out to get your nominations form submitted for this year’s Car Dealer Used Car Awards 2025.
Smart boss explains how brand is now ‘benefiting heavily’ from Mercedes and Geely joint venture
Smart’s boss said that the firm went through ‘six bumpy years’ as it perfected the relationship between joint venture partners Mercedes and Geely.
Family-run T Wall Garages posts improved profits as dealer thrives in ‘extremely challenging market’
Weather
Windy in the far north with lingering showers, while rain spreads from Wales and central England into Northern Ireland and southern Scotland, reports BBC Weather. Other areas stay mostly dry with cloud.
Tonight, rain and cloud affect central and northern regions, but clearer spells develop in Northern Ireland, the southeast, and central Scotland.
