A number of major central banks have already reduced interest rates this year in response to falling inflation, and yesterday their number was swelled when the Bank of England cut Bank Rate from 5.25% to 5.0%. Just a day earlier however the Federal Reserve refused to join the club, leaving the fed funds rate unchanged when it concluded its two-day meeting, although Jerome Powell did indicate that a reduction may be on the cards soon. But when the Fed does...

Investors and the easing cycle