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The Guardian - UK
The Guardian - UK
Business
Phillip Inman

Hope fades for cut in interest rates for industrialised nations

United States ECB Interest Rates Christine Lagarde US Federal Reserve Inflation Economy
European Central Bank president, Christine Lagarde
The European Central Bank president, Christine Lagarde, in Frankfurt on Thursday. She said the ECB was unsure inflation would be on target. Photograph: Xinhua/Rex/Shutterstock

The prospect of early interest rate cuts this year across leading industrialised nations received a blow on Thursday after figures showed the US economy grew at a faster pace than expected last year.

A stronger than forecast increase in US gross domestic product (GDP) of 3.3% last year dented hopes in the US, while the European Central Bank hinted at delays to the first cut in the cost of borrowing.

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