Meetings of central banks' rate-setting committees on both sides of the Atlantic will attract even more attention than usual this week with a growing belief that cuts may be on the cards. The US Federal Reserve, meeting on Wednesday, is thought particularly likely to cut rates by a quarter percentage point.
The situation in Europe, where the ECB governing council meets on Thursday, the same day the bank of England announces its rate decision, is less sure. Economists point to stubbornly high inflation in the euro zone as one reason why the ECB may continue to hold off on a rate cut. Neither Frankfurt nor Washington has tweaked rates this year but both have increasingly indicated their intention of doing so as their respective economies weaken.
The US Federal funds rate is currently 1.75 per cent, its lowest for 40 years. The ECB's key rate is 3.25 per cent.
The situation in London is less clear but also less important.
On the corporate front Ryanair will produce figures today, which are expected to show a 35 per cent increase in interim pre-tax profits to around €138 million on the back of a 38 per cent rise in passenger traffic.
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