Fed and BoE to hold rates after Mideast peace deal
Business
The US Federal Reserve and the Bank of England are expected to keep interest rates steady this week, thanks in part to a new Middle East peace deal that's expected to ease inflation as the opening of the Strait of Hormuz lowers oil prices.
The Fed, now led by Donald Trump's pick Kevin Warsh, is likely holding rates at 3.5% to 3.75% when it meets Thursday.
BoE and Fed pause, ECB hiked
Even though UK inflation is above the Bank of England's 2% target, and US inflation just jumped to its highest in three years, both banks are choosing not to raise rates right now.
Meanwhile, Europe's central bank actually increased its rate last week after eurozone inflation climbed too.
All eyes are on how these moves will shape the economy next.