Key Events Around the Globe: Jan 29

UK Vehicle Production Drops Nearly 16% in Toughest Year in a Generation, SMMT Says

British vehicle production tumbled in 2025 after a cyberattack at the country’s largest automaker, new trade tariffs and plant restructuring weighed on output in what was described as the sector’s toughest year in a generation.

Total vehicle production dropped 15.5% to 764,715 units last year, according to data from the Society of Motor Manufacturers and Traders. While car production declined 8% to 717,371 units, commercial vehicle output plunged 62.3% to 47,344 units.

Tata Motors-owned JLR halted production at its UK plants for six weeks following a September cyberattack, which cost the British luxury carmaker hundreds of millions of pounds. The company resumed production in October.

Fed Holds Rates Steady as Expected, but Sees Elevated Inflation

The Federal Reserve held interest rates steady on Wednesday, as was widely expected, citing still elevated inflation alongside solid economic growth, and giving little indication in its latest policy statement of when borrowing costs might fall again.

The Fed, after three consecutive quarter point rate cuts in late 2025, stood pat at its January meeting, keeping the Fed Funds Rate between 3.5% and 3.75%. The Fed telegraphed a cut was not in the offing, and the market didn’t expect one, so this month’s meeting was a non-event, which is a good thing as when markets and the Fed aren’t on the same page extreme volatility often manifests.

Source: HSL Prime Daily, 29 Jan 2026

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