Money blog: 'Very big market event playing out' over US recession fear - impact on interest rates could be 'huge'

We've had CNBC business presenter Karen Tso on air explaining the stock market turbulence we're seeing this morning - and she says the underlying factors could have a significant impact on global interest rates.She described the stock market falls we reported on in our previous post as a 'very big market event playing out'.

For context, the UK just had its first 25bp cut last week - with the Bank of England warning the path to lower rates will not be quick.But Tso thinks events unfolding now could change the mindset of central banks around the world.She told Sky News: 'The consequences are huge because it's not just the Fed we're talking about here.

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