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Missile Fire from Yemen's Houthi Rebels Triggers Sirens in Central Israel for the Second Night

  For the second consecutive night, air raid sirens blared across central Israel as a missile launched from Yemen's Houthi rebels was intercepted by Israeli air defenses early Wednesday morning. The missile, aimed at the Tel Aviv area, was successfully intercepted before crossing into Israeli territory, though shrapnel from the interception fell in several towns.  This marks the fourth time in a week that missile fire from the Houthi rebels has set off sirens in Israel. On Saturday, a missile hit a playground in Tel Aviv, injuring 16 people after Israel's air defense system failed to intercept it. In response, Israeli jets struck Yemen's rebel-held capital and a port city, resulting in nine casualties.  Israel's foreign minister has requested an emergency meeting of the U.N. Security Council to condemn the Houthi attacks and their alleged Iranian allies for providing the rebels with weapons. The situation remains tense as both sides continue to exchange fire, with the H...
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Bank of England Holds Rates Steady at 5.25% Ahead of UK Election

 


The Bank of England (BoE) has maintained its main interest rate at a 16-year high of 5.25% in anticipation of the upcoming July 4 election. While some policymakers considered a rate cut, the decision remained “finely balanced.” 

The BoE’s Monetary Policy Committee voted 7-2 to keep rates unchanged, aligning with economists’ expectations. BoE Governor Andrew Bailey emphasized that it was “good news” that inflation had returned to its 2% target, but cautioned against premature rate cuts. Sterling dipped against the U.S. dollar following the announcement, and markets now anticipate an 88% chance of a quarter-point cut by September. Despite the election context, the BoE clarified that the decision was unaffected by political considerations. 

The evolving economic indicators will guide future rate decisions, with most economists expecting a cut in August. However, this timing may not benefit Prime Minister Rishi Sunak, whose Conservative Party trails the opposition Labour Party in pre-election polls. The BoE’s stance reflects the delicate balance between inflation concerns and economic recovery.

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