The Federal Reserve, confronted with a global stock sell-off fanned by increased fears of an American recession, cut a key interest rate by three-quarters of a percentage point on Tuesday, the biggest one-day move by the central bank in recent memory.

NPR: Fed Sends Signal with Deep Cut to Interest Rate

The European Central Bank has cut its key interest rate by one half of one percentage point, in 17 months.

BBC: ECB takes (a little) action

But as the performances of the key sectors of the economy diverge, so too are opinions on the direction interest rates will take after this point.

BBC: Bank weighs two-speed economy