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Wednesday's business with Dominic O'Connell

The Federal Reserve makes an emergency cut to interest rates – will the UK follow suit?

America's central bank, the Federal Reserve, has done something it only does in a crisis - an unscheduled cut in interest rates. It was an attempt to head off the economic damage done by the coronavirus. Did it work? And will it rates be cut here too?

(Image: US Federal Reserve Chairman Jerome Powell departs after giving a press briefing, after the surprise announcement the Fed will cut interest rates on March 3, 2020 in Washington DC. Credit: AFP/Getty Images)

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12 minutes

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