It is a big week ahead next week as the US Federal Reserve, European Central Bank and Bank of Canada hold their first meetings of 2025.

Here’s your guide to the week ahead in global markets: The Fed holds its first meeting of the year, just over a week after Trump’s return to the White House. The central bank is widely expected to pause its easing cycle on Wednesday, after cuts totalling 100 basis points (bps) last year.

In case you were placing bets on how long into his second term it would take for President Trump to start weighing in on interest rate policy, we learned the answer Thursday: 71 hours. Why it matters: Trump telling the Fed what he thinks it should do is nothing new.