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The federal reserve is expected to hold firm at its meeting next week. but elsewhere the tide is turning. canada became the first of the world s richest g7 economies to lower its main lending rate on wednesday shaving off a quarter of a percentage point to 4.75%. today it s the turn of the ecb the european central bank to make its move. many are predicting a similar drop from the current 4% main interest rate. that would mark the first cut for the eurozone since 2019. joining me now is azad zangana, senior european economist from schroders. i m good morning. do you believe that will happen today from the ecb, that they will cut rates? from the ecb, that they will cut rates? absolutely, this is -robabl cut rates? absolutely, this is probably slightly cut rates? absolutely, this is probably slightly overdue. i cut rates? absolutely, this is i probably slightly overdue. they could have started cutting interest rates from about april onwards. but they have had to wait to get more co

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Rates are expected to rise from 4.25% to 4.5% as the bank of england tries to rein in soaring inflation. inflation is still running at over 10% and at a as year high, largely driven by soaring food and energy prices. the bank rate is already at its highest level for m years, and further increases will pile more pain onto borrowers, particularly homeowners through higher mortgage rates. let s look ahead now with azad zangana, senior european economist & strategist, schroders. this deal we will get in half an hour but it feels done and are priced n. it hour but it feels done and are riced n. , hour but it feels done and are priced n- hour but it feels done and are ricedn. ,, , . ,. priced n. it is pretty much expected end has been priced n. it is pretty much expected end has been flagged priced n. it is pretty much expected end has been flagged for priced n. it is pretty much expected end has been flagged for some - priced n. it is pretty much expected | end has been flagged for s