The US Federal Reserve has hiked interest rates for the 9th time since March last year, this time by a quarter of a percentage point, as the global banking crisis continues.
The central bank did indicate, however, that it was on the verge of pausing further increases in borrowing costs after the recent collapse of two US banks.
But Wall Street ended sharply lower overnight after the central bank leader, Jerome Powell, fronted a news conference saying officials are still hell bent on fighting inflation.
So what’s it gonna be for the Bank of England on Thursday? Rumour is much of the same, also on the back of the European Central Bank’s half percentage point rate rise last week.