US rates may be raised in June

EUROPEAN and US interest rates look to be on hold for the moment, but the level of uncertainty about when the next interest rate moves will be made have increased.

It is still expected that British interest rates will be increased next month after the next meeting of the Monetary Policy Committee.

Far less certain is the intentions of the European Central Bank, which may cut rates one more time. But the odds on that happening have lengthened as economic recovery in the zone shows healthier signs.