Wall Street expects Fed to cut US interest rates by 0.5% today, as odds of UK cut tomorrow fall – business live

Markets are bracing for a crucial US interest rate decision today, with many investors expecting a large cut to rates

• What would a Federal Reserve interest rate cut mean for you?

Despite fears of a Taylor Swift effect, hotel and restaurant prices actually fell last month.

Today’s inflation report shows that prices at restaurants and hotels fell by 0.7% in August, compared with July.

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