The Bank of England on Thursday held its key interest rate at a 16-year high, opting against a reduction as inflation remains elevated despite recent slowdowns.

The US Federal Reserve could provide additional clues on Wednesday about how much it will cut interest rates this year, but it is almost certain to leave its key lending rate unchanged for the time being.

Stock markets wavered on Monday as traders looked ahead to interest-rate decisions this week from the US Federal Reserve and the Bank of England.

Wall Street stocks fell Thursday as markets braced themselves ahead of a major speech by Federal Reserve Chair Jerome Powell as a rally fueled by artificial intelligence star Nvidia fizzled.

Stock markets bounced on Wednesday as data showed US inflation cooled more than expected in June, raising hopes that the Federal Reserve will soon end its cycle of interest rate hikes.

US Fed set to raise interest rates as recession fears mount

While higher rates aim to tame runaway inflation by slowing economic activity, they can cause a recession if borrowing costs become too steep for businesses and individuals.

In the battle to contain red-hot inflation, which topped nine percent in June, the Fed has hiked rates four times

The Fed is the world's most influential central bank, and its policies have implications for lending globally.

The US Federal Reserve is expected to begin paring its stimulus before the end of the year.

BOE governor Andrew Bailey said central bankers face a "very difficult balancing act"

Atlanta Federal Reserve Bank President Raphael Bostic warned that higher inflation could persist.

The optimism on trading floors was shattered when Federal Reserve boss Jerome Powell signalled the world's top economy would take some time to bounce back.

There is a broad consensus that the disease, which has wiped trillions off market valuations, will cause a global recession.

After the COVID-19 pandemic began in China, Europe has emerged as the biggest flashpoint and the death toll on the continent surged over the weekend.

The rising concern about the global economy has been reflected in the continued collapse of global stock markets.

The trade picture is "somewhat better" heading into 2020.

After powering to a record close Tuesday, traders fearing the virus could spread and harm the global economy, sent Wall Street into the red.

Cautious comments on the fallout from the virus by US Federal Reserve Chairman Jerome Powell added to the sense of calm.

Weakening global growth and President Donald Trump's trade wars together hit US exports.

The U.S. economy is humming along, with second-quarter growth rate at 4.2 percent.

The British currency spiked intraday on London-Brussels announcement but slid as the greenback rose.

US President Donald Trump announced Powell, 64, as his pick to lead the Fed on 2 November in place of current chair Janet Yellen.

Ahead of formal confirmation, reports say the President has picked the serving Fed board member to succeed Janet Yellen at the US central bank.

Surge led by strong sales of autos and other durable goods, according to official data.

Confidential document suggests trade talks between London and Brussels could begin soon despite claims that Brexit negotiations were deadlocked.

An interest rate hike that looked increasingly unlikely in December is both back on the table and gaining support.

Sterling had fallen overnight against the US dollar following Federal Reserve decision to hike interest rates.

The central bank chief noted that the US has seen a rise in its death rate.

Central banks in the US, UK and Europe signalled they might end the loose monetary policy that has injected trillions of dollars into their economies.