The number of UK job vacancies has fallen to the lowest level in more than three years and unemployment has risen, signalling that businesses reined in hiring after Rachel Reeves’s October budget.

Investors expect the Bank of England (BoE) to cut interest rates from the current level of 4.75% at its February 6 meeting on better-than-expected inflation figures for December and amid concerns over stagnant economic growth.

The Eurozone’s PMI was better than expected in January, increasing from 49.6 to 50.2, but still corresponds to a stagnant economy, per ING Bank.

The European Central Bank (ECB) will meet in the coming week and another rate cut of 0.25% is widely expected, with more to come.

The Bank of Japan (BoJ) raised its target rate to 0.5%, as expected last week.  Further rate hikes are expected this year.