America

US expected to cut interest rates as Trump prepares for office

As investors digest Donald Trump’s election victory, the US central bank is set to announce its latest decision on interest rates around 14:00 EST (19:00 GMT).

The Federal Reserve is widely expected to cut its key rate for the second month in a row as the pace of price rises eases.

Fed officials will also be grappling with concerns that the president-elect’s policies, including higher import taxes, may trigger more inflation.

Trump’s win on Wednesday sent the US dollar soaring by about 1.65% against other currencies, including the pound, euro and Japanese yen.

Trump has also said he may want to have a say in the central bank’s decisions, potentially threatening its independence. In last term in office, he criticised Chair Jerome Powell after rates were hiked to tackle inflation.

Meanwhile, the UK’s latest interest rate announcement is due at 12:00 GMT – a cut to 4.75% is expected

Chart showing surging dollar value on 6 November
Image caption,

The dollar surged as Donald Trump’s win was confirmed

Ogyem Solomon

Solomon Ogyem – Media Entrepreneur | Journalist | Brand Ambassador Solomon Ogyem is a dynamic Ghanaian journalist and media entrepreneur currently based in South Africa. With a solid foundation in journalism, Solomon is a graduate of the OTEC School of Journalism and Communication Studies in Ghana and Oxbridge Academy in South Africa. He began his career as a reporter at OTEC 102.9 MHz in Kumasi, where he honed his skills in news reporting, community storytelling, and radio broadcasting. His passion for storytelling and dedication to the media industry led him to establish Press MltiMedia Company in South Africa—a growing platform committed to authentic African narratives and multimedia journalism. Solomon is the founder and owner of Thepressradio.com, a news portal focused on delivering credible, timely, and engaging stories across Ghana and Africa. He also owns Press Global Tickets, a service-driven venture in the travel and logistics space, providing reliable ticketing services. He previously owned two notable websites—Ghanaweb.mobi and ShowbizAfrica.net—both of which contributed to entertainment and socio-political discussions within Ghana’s digital space. With a diverse background in media, digital journalism, and business, Solomon Ogyem is dedicated to telling impactful African stories, empowering youth through media, and building cross-continental media partnerships.

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