Britain marks VE Day with nationwide tributes today, while major political and economic developments dominate headlines.
Today we remember
Commemorations for Victory in Europe Day are under way, with services, a national moment of silence, and parades honouring the 80th anniversary of the end of World War II in Europe. The King led a wreath-laying at the Cenotaph, joined by Prime Minister and veterans. Towns across the UK are hosting street parties, beacon lightings, and flypasts to pay tribute to those who served.
US-UK trade deal pending
Meanwhile, in a development likely to shake global markets, Donald Trump is expected to announce a new UK-US trade deal during a press briefing this afternoon. Though details remain under wraps, officials hint at provisions for tariff reductions and fast-tracked export agreements in agriculture and manufacturing.
The move comes amid Trump’s escalating trade war with China, which has already had ripple effects on global inflation forecasts.
Rate cut expected
All eyes are also on Threadneedle Street, where the Bank of England is poised to announce a critical interest rate decision at 12:02pm – delayed slightly to honour the VE Day silence. Analysts are split on whether the Bank will go for a bold half-point cut, dubbed the “bazooka” option, to combat slowing growth and falling inflation.
Market data this morning shows a 98% expectation of at least a 0.25% cut, with the base rate potentially falling to 3.5% by year-end.
With geopolitical shifts, economic uncertainty, and national pride intersecting, May 8 is proving to be a defining day for Britain’s future at home and abroad.
