5 important things happening in the UK today

Here are 5 important things happening in the UK today, Thursday (18 December 2025):

Bank of England expected to cut interest rates: Policymakers at the Bank of England are expected to cut interest rates, bringing the Bank rate down to its lowest level since February 2023. Analysts are widely predicting a fall from 4% to 3.75%, although they do not expect a unanimous decision among the nine-member Monetary Policy Committee (MPC). This would be the sixth cut in interest rates from August last year. The Bank rate heavily influences the cost of borrowing by consumers, but also the returns given to savers. [BBC]

MPs warn that UK agreements with Donald Trump are ‘built on sand’: Ministers and senior MPs have warned that the UK’s agreements with Donald Trump are “built on sand” after the Guardian established that the deal to avoid drug tariffs has no underlying text beyond limited headline terms. The “milestone” US-UK deal announced this month on pharmaceuticals, which will mean the NHS pays more for medicines in exchange for a promise of zero tariffs on the industry, still lacks a legal footing beyond top lines contained in two government press releases. [Guardian]

Electric car demand cools in setback for Starmer’s petrol ban: The proportion of Britons planning to buy an electric or hybrid vehicle has fallen for the first time since Covid. It raises fresh concerns over the Government’s 2030 ban on the sale of new petrol and diesel cars. Only half of those looking to buy a vehicle in the next two years would now consider a “green” model, based on a survey of purchasing intentions, down from 59% in 2024. [Telegraph]

BP appoints first female CEO after abrupt exit: Oil and gas major BP has appointed Meg O’Neill, the head of Australia’s Woodside Energy, as its next CEO to lead its effort to boost profits and refocus on oil and gas after a detour into renewables. O’Neill, who will take over in April following the abrupt departure of Murray Auchincloss, will become BP’s first CEO appointed from outside the company in its more than century-long history and the first woman to head any of the world’s top five oil majors. [Reuters]