At this week’s meeting, the Federal Reserve has left US interest rates on hold at a range of 4.25% to 4.5%, despite pressure from the government to lower rates.   Analysts are divided on whether the Fed can continue to hold the line on rates as the Trump administration is determined to make cuts.

The UK economy will expand by less than 1% this year, forcing the Bank of England to cut interest rates as many as five times, according to Morgan Stanley.

The European Central Bank‘s decision to cut interest rates by 25 basis points this week is no surprise, despite somewhat stickier headline inflation and a sluggish eurozone economy.