The Federal Reserve kept its forecast for two rate cuts this year amid Trump's tariffs, which are expected to push up inflation and slow the economy

Four meetings and six months have elapsed since the Fed last adjusted interest rates. The federal funds rate stands between 4.25% and 4.5%, preserving much of a sharp increase imp

The Bank of England previously said it expects inflation to peak at 3.7% between July and September before dropping back to its 2% target.

By Andy Bruce and William Schomberg (Reuters) -British inflation cooled in May as expected by the Bank of England, which is set to keep interest rates on hold this week while it assesses international energy markets rocked by escalating conflict in the Middle East.