Interest rates are uppermost on many investors’ minds on both sides of the Atlantic this week.
The Bank of England will announce tomorrow if there is any change to the current rate of 4%.
The expectation is that the Bank’s monetary policy committee will go for an increase of 0.25% - good news for savers, but not for those with bank loans or mortgages.
However, a much-more significant rate decision is being made in the US later today.
The global economy is facing a slew of problems - and all eyes are looking in one direction: America.
Two banking failures in the US this month have raised fears about the health of the world’s financial system.
Recession worries
The collapses follow a sharp rise in global borrowing costs, led by America, which has shocked the world economy and raised worries about a recession.
At the centre of the crisis is the US central bank.
Since last year, authorities at the Federal Reserve have been leading the charge to raise interest rates, as they wrestle to rein in price increases driving up the cost of living.
With risks to the economy rising, can that campaign continue?
Just two weeks ago, Fed chairman Jerome Powell warned the bank might need to raise the interest rate further and faster than expected, citing concerns that progress on stabilising prices was stalling.
The BBC says the rate at which prices in the US rose was 6% in the 12 months to February - far higher than the 2% rate considered healthy.
Banking turmoil
But the recent banking turmoil has many investors betting the Fed will be especially keen to avoid startling financial markets with a big move.
Many analysts expect officials to raise the rate today by 0.25% - or perhaps hold off on an increase entirely.
Whatever the decision, Mr Powell is squarely in the hot seat - with little chance of satisfying his many critics.
"This is probably the toughest decision the Fed has had to make in a while," said Ryan Sweet, chief economist at Oxford Economics, who is expecting a 0.25% rise.
Mr Powell, a lawyer who was appointed to lead the Fed by former President Donald Trump, already had work to do to restore credibility, after he infamously described the price rises that started to hit America in 2021 as "transitory".
The bank failures have added to the scrutiny, putting into focus costs from the rapid rate-rise campaign, while raising questions about whether the Federal Reserve had been too lax in its oversight.
Key rate
Over the past year, the Fed has raised its key rate - what it charges banks to borrow - from near-zero to more than 4.5% - the highest level since 2007.
But strong hiring has helped the US economy hold up better than many expected, despite a sharp slowdown in the housing market and struggles in the tech sector, where low borrowing costs had helped fuel growth.
FTSE 100
Stock markets around the world bounced back yesterday after the US and UK governments again reassured markets about banks' stability.
The UK's top share index, the FTSE 100, was down 20 points at 7,515 shortly after opening this morning, following yesterday's 132-point gain.
Brent crude futures were down 0.63% at $74.73 a barrel.
Companies reporting today
- Full-year results: Fevertree, Vistry