100% chance that Bank of England will cut interest rates next month, markets predict
Tuesday, 22 April 2025 Financial markets have priced in a 100% chance of a Bank of England interest rate cut next month, as the effects of Donald Trump's evolving trade war continue to play out in the global economy.
The system for regulating water companies should be overhauled and replaced with one body for England and one body for Wales, a landmark review of the sector has advised. The much-anticipated report from the Independent Water Commission, led by former Bank of England deputy governor Sir Jon Cunliffe, outlines 88 recommendations to the UK and Welsh governments. Water minister Emma Hardy says she cannot guarantee the government will implement all 88 recommendations. Report by Gluszczykm. Like us on Facebook at http://www.facebook.com/itn and follow us on Twitter at http://twitter.com/itn
In a harrowing visit to Gaza’s so-called “Valley of Death,” Trump’s envoy Steve Witkoff walked the frontline near an aid distribution zone where nearly 900 civilians have reportedly been killed in recent IDF operations. Joined by international officials and aid workers, Witkoff witnessed first-hand the devastation wrought by shelling in proximity to humanitarian corridors.
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India has reportedly declined a U.S. offer to buy F-35 stealth fighter jets, according to Bloomberg. The offer was made by President Trump during Prime Minister Modi’s visit to Washington in February. Instead of purchasing American jets, India is prioritizing joint defense manufacturing initiatives and has shown greater interest in the Russian Su-57, especially after its debut at Aero India.
The Indian Ministry of External Affairs downplayed Bloomberg’s report, confirming no formal talks on the F-35 have taken place yet. Meanwhile, the U.S. has slapped 25% tariffs on Indian imports due to a failed trade deal, escalating tensions. Trump also announced India would face a penalty over its continued defense ties with Russia. This deepening rift could impact U.S.-India defense cooperation and reshape future arms procurement.
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Donald Trump says he has ordered two nuclear submarines to be positioned in the "appropriate regions" in a row with former Russian president Dmitry Medvedev. Sky News
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