The Bank of England is ready to implement larger interest rate cuts if the job market shows signs of slowing down, according to Governor Andrew Bailey.

• Current interest rates are at 4.25% and will be reviewed on 7 August.
• Andrew Bailey indicates a likely downward trend in rates, citing business adjustments in employment and pay.
• Job vacancies in the UK have dropped to 736,000, the lowest since 2021, while the availability of workers has surged, according to a survey.

The UK government plans to make purchasing electric vehicles (EVs) more affordable, according to Transport Secretary Heidi Alexander.

• The government is investing £25m to help councils install charging infrastructure and £63m for more charging points.
• Alexander is expected to announce details on potential subsidies later this week.
• Around 20% of new cars sold in the first half of 2023 were electric, but sales are still below targets ahead of a ban on new petrol and diesel cars by 2030.

The Kenyan government plans to raise the legal drinking age to 21 as part of its new National Policy for the Prevention, Management, and Control of Alcohol, Drugs and Substance Abuse aimed at combatting substance abuse.

• The policy was developed through a consultative process involving various stakeholders.
• Kipchumba Murkomen, the Interior Cabinet Secretary, emphasized the need for a united front to tackle the rising crisis.
• The initiative aims to delay alcohol use initiation among youth while providing stronger legal backing for law enforcement.