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The Guardian - UK
The Guardian - UK
Business
Phillip Inman

US and UK central banks expected to keep interest rates on hold amid Iran peace deal

Kevin Warsh Interest Rates United Kingdom United States Inflation Iran US Federal Reserve Christine Lagarde Donald Trump ECB
People rush to get groceries after waiting in line for the opening of a Trader Joe's grocery store
The Federal Reserve chair is expected to say that the opening of the strait of Hormuz will ease inflation over the rest of the year. Photograph: Ryan Murphy/Getty Images

Central banks in the US and UK are expected to leave interest rates on hold this week as the peace deal in the Middle East is predicted to ease inflationary pressures.

The US Federal Reserve is expected to hold its benchmark interest rate at a range of 3.5% to 3.75% on Thursday, in what will be the first policy decision under the new Fed chair – and Donald Trump’s pick – Kevin Warsh.

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