Introducing Surge - Intelligent Book and Execution Optimisation Platform

Oh, what a night! The Fed cut by 50 basis points to a corridor of 4.75% - 5% (Lower Bound / Upper Bound), marking its first reduction in more than four years.

The Fed interest rate decision is the main event today. Although the fact they will cut rates is in no doubt, markets are however divided on how big the cut may be.

The 25 or 50 debate continues ahead of Wednesday's Federal Reserve meeting. The case for a 50bp cut was reignited by ex-Fed official William Dudley's comments to The Wall Street Journal.