Your new post is loading...
From
www
The bank says it wants confidence about inflation cooling before it starts cutting rates.
The Federal Reserve has held its benchmark interest rate at 5.25 - 5.5% in the face of the strong performance of the US economy and concerns that the economy hasn't yet completely rid itself of inflation.
As a result, although rates are expected to fall by 0.75% in the course of the year, they've not come down yet and this has wider implications for the global economy, with other developed economies wondering whether to follow suit, not least the Bank of England, which announces its latest interest rate decision tomorrow.