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The Bank of England is expected to keep rates steady Thursday, even after U.K. inflation rose to 3.1% and energy costs keep pressure on prices.

The Federal Reserve on Wednesday approved its first interest rate hike since 2023 and indicated another to come.

With inflation above target and no visibility on lower oil prices or stability of tariffs, the Fed chairman needs to pass the test that has faced his predecessors

The all-items consumer price index was expected to rise 0.4% in August, with core, excluding food and energy, showing a 0.2% gain, according to the Dow Jones consensus.

Ten days ahead of the next Federal Reserve meeting, the Trump administration looks to be in a full-court press to halt a rate hike in its tracks.

August nonfarm payrolls are expected to rise by 53,000 as a subdued labor market keeps Fed attention focused on inflation.

In remarks that seem to contrast with statements last week from Chairman Kevin Warsh, Waller expressed confidence in the current inflation trends.

The policymaker said he's concerned about "broader price pressures taking hold" as inflation has prevailed above the Fed's 2% target

The European Central Bank is seen hiking rates in September as the Iran war raises energy costs in the region.

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