Jun 30: Interest rates set to be held; Greggs sales boom; Mini toughs up Countryman

Bank of England set to hold interest rates at 3.75% The Bank of England is expected to hold interest rates again next week despite fresh uncertainty in the Middle East. Economists have said they still expect a majority of the Bank’s rate-setting committee to opt to keep the base interest rate at 3.75% despite attacks in the region and US threats reigniting some concerns over inflation. The latest meeting of the Monetary Policy Committee (MPC) on Thursday, July 30, which will also see it unveil fresh economic forecasts, comes amid a backdrop of easing inflation in recent months. Iced matcha, salads and picnic sausage rolls help Greggs weather heatwave Iced lattes, picnic food and a bigger range of salads helped Greggs battle the heatwaves this year as its boss admitted people ‘eat less’ when temperatures soar. The chain of 2,773 bakeries revealed its sales increased over the first half of 2026 while its expansion across the UK continued. It revealed that total sales topped £1.1bn for the 26 weeks to June 27, which was 7.2% higher than the same period a year ago, and largely driven by the opening of 34 shops on a net basis. The retailer’s pre-tax profit jumped by a fifth to £76m for the half-year period, which it said was partly due to launching its ‘bake at home’ frozen range in Tesco, adding to an existing partnership with Iceland Foods. Mini gets off-road-ready Countryman into shape through Rocky Mountains Mini looks set to introduce a more off-road-focused version of its Countryman SUV. Referred to only as ‘a new Countryman edition’, a prototype model has been showcased being put to the test through the Rocky Mountains in Colorado, USA. While full details are being kept under wraps for now, the prototype appears to be wearing lifted suspension, chunkier tyres and an adventure-ready roof tent. It appears to feature a slightly extended roof spoiler at the rear, too. A production version is expected to be unveiled in October. The markets The FTSE 100 posted solid gains on Wednesday after earlier hitting a new all-time high, lifted by well-received earnings and gains in BP and Shell as the oil price strengthened. The FTSE 100 index closed up 37.39 points, 0.3%, at 10,908.41. It had earlier hit a new intra-day high of 10,951.06, although it ended just short of its all-time record close of 10,910.55, seen in February. The FTSE 250 ended down slightly at 23,996.81, while the AIM All-Share closed down 6.09 points, 0.8%, at 761.85. The pound was lower at 1.3284 dollars on Wednesday afternoon, against 1.3306 dollars at the equities close on Tuesday. Against the euro, sterling was slightly lower at 1.1673 euro from 1.1674 euro. Donald Trump says Andy Burnham told him he will ‘open up North Sea oil’ Donald Trump has said Andy Burnham told him that he was going to ‘open up North Sea oil’. Speaking in the White House, the US president said if the prime minister followed through on his commitment the UK was ‘going to be a wealthy country’. Following the phone call between the two leaders on Burnham’s first day in office, Downing Street would not be drawn on any potential future plans for North Sea drilling after Trump talked up a change in policy under Burnham. Half of England plunges into ‘flash drought’ after low rain and hot weather Swathes of England are suffering from ‘flash drought’ as a result of very low rainfall and high temperatures, the Environment Agency has said. The government agency said seven areas of central, eastern and southern England – around half of the country – have been declared as officially in drought. The areas are East Anglia, Hertfordshire and the whole of London, Thames Valley, Hampshire and the Isle of Wight, Devon and Cornwall, the West Midlands, and Wessex – covering Dorset, Somerset, Wiltshire and Gloucestershire.