Summary
Today, the Bank of England lowered interest rates to their lowest level since early 2023. Despite this, the Bank does not expect the economy to grow by the end of the year. Additionally, President Trump has initiated a blockade on sanctioned oil tankers entering and leaving Venezuela, which has increased tensions between the two countries.
Key Facts
- The Bank of England cut interest rates to the lowest level since early 2023.
- Chancellor Rachel Reeves stated this move is beneficial for people with mortgages and businesses with loans.
- The Bank of England expects no economic growth by the end of this year.
- Tensions between the US and Venezuela are rising due to an oil tanker blockade.
- President Trump ordered a total blockade on sanctioned oil tankers related to Venezuela.
- Caracas has criticized the US blockade as aggressive threats.
- The news was discussed in a broadcast by the BBC, presented by Tristan Redman.
