The dip in the U.S. credit rating indicates that ratings agencies believe the government is at a higher risk of default on its debt. While the U.S. rating still remains relatively high, the decrease may make investors more hesitant to lend to the government, and demand higher compensation for lending in the form of higher interest rates.

The European Central Bank may need to cut its key interest rate below the neutral level of 1.5%-2% to prevent inflation from falling below its 2% target in a frail economic setting, ECB policymaker Mario Centeno told a news briefing on Wednesday.

The headline rate of UK inflation jumped by more than expected to 3.5% in April, this morning's ONS report shows

The financial expert said: After last month’s barrage of price hikes - which added around £360 to the average household’s outgoings - this inflation spike is no surprise. Housing and household services were among the largest upward contributors to April’s inflation figures.

Britain's annual inflation rate surged more than expected in April as energy and water bills rose sharply, official data showed Wednesday, causing the government to acknowledge that the country remain

Ghana's central bank will assess whether its current monetary policy stance is enough to continue driving consumer inflation lower, governor Johnson Asiama said on Wednesday.

Inflation has risen well above the Bank of England's 2 per cent target, and is expected to stay there for many months