Former U.S. President Donald Trump wins a resounding victory in the Iowa caucus, solidifying his position as the GOP presidential frontrunner. Florida governor Ron DeSantis pips Nikki Haley to second place while Vivek Ramaswamy bows out of the race. We are live in Davos at the World Economic Forum where ECB board member Robert Holzmann tells CNBC exclusively that the central bank may not cut interest rates at all this year. Holzmann warned those expecting cuts may be ‘deeply disappointed’. Meanwhile, IMF managing director Kristalina Georgieva says she expects a soft landing for the global economy but that central banks are still exposed to risk this year. In the Gulf of Aden, Houthi rebels hit a U.S. owned commercial ship following last week’s U.S. and UK airstrikes. And in Hong Kong, the Hang Seng leads declines while the Dow is likely to open 100 points lower following the MLK Day long weekend.  See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.