However, governor Andrew Bailey has said Britain’s economy is “moving in the right direction” to start cutting rates
Federal Reserve
Forecasts come as US central bank holds interest rates at 23-year high
Unexpected increase set to be scrutinised by central bank as it weighs interest rate cuts
Comments by Fed chair Jay Powell come a day after ECB signalled possible movement in June
History has warned that the last stage of returning inflation to central bank targets is often the most difficult
Underwhelming US price data dampens speculation of early cut in interest rates
Middle-ground speculation is for ECB rate cuts to begin in June
Central bank drops previous assertion that a rate hike is still possible
Solid GDP and employment data mean officials can afford to wait until they are sure inflation is under control
December meeting minutes appear to pour cold water on prospect for cuts to start in March
An absence of major news has not stopped investors from ramping up bets on rapid-fire rate cuts next year
Joe Biden has been talking up his economic vision and achievements ahead of the 2024 election. Will voters be sufficiently convinced to return him to the White House?
US Treasury yields fall and stocks rise after central bank officials forecast 75bp worth of cuts next year
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