America’s central bank last night held interest rates at a 22-year high but left the door open for more hikes in the battle to bring down inflation – and played down any prospects of a cut soon. The US Federal Reserve’s rate was left in a range of 5.25 per cent to 5.5 per cent, the second pause after aggressive rises since early 2022. The question was ‘should we hike more?’Today the Bank of England’s interest rate decision is expected to see rates left on hold for the second time in a row. Andrew Hunter, deputy chief US economist at Capital Economics, said: ‘The Fed remains in wait-and see-mode. 'We suspect the data over the coming weeks will see the case for a final hike continue to erode, with the Fed likely to start cutting rates again in the first half of next year.’

Source: Daily Mail November 01, 2023 23:25 UTC