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With inflation hovering around 2 percent and an economy characterized by excess supply, coupled with recent indicators suggesting growth weaker than initially projected, the Bank of Canada announced a much-anticipated decision on Wednesday to cut interest rates by an additional half percentage...
We discussed both 25 and 50 bps
There are some mixed signals in the economic data
We cut by 50 bps for 2 reasons: 1) We no longer need policy that's clearly in restrictive territory. 2) All the data tilts towards a softer economic outlook for GDP growth compared to October estimates
Cites lower...
The Bank of Canada cut rates by 50 basis points but the statement no longer contains explicit guidance towards rate cuts.
The opening statement from the press conference has already been published but there will be a Q&A afterwards.
This article was written by Adam Button at www.forexlive.com.
The Bank of Canada (BoC) cut its overnight rate by 50 basis points, to 3.25%, while stating that it will continue with Quantitative Tightening (QT). The bank highlighted that economic growth has been weaker than they expected, stating that “the economy grew by 1% in the third quarter, somewhat...
The Bank of Canada (BoC) cut its overnight rate by 50 basis points, to 3.25%, while stating that it will continue with Quantitative Tightening (QT). The bank highlighted that economic growth has been weaker than they expected, stating that “the economy grew by 1% in the third quarter, somewhat...
The only way is down – but not in the land down under. Central banks in the Eurozone, Canada and Switzerland are on course to cut rates this week, ahead of a similar move in the US next week.
Bank of England (BoE) cuts key interest rate by 0.25%, with the British pound posting strong gains. The UK budget could complicate the BoE’s rate path.
US Federal Reserve, Bank of England Expected to Cut Rates by 0.25% Today; All Major US Stock Market Indices Trade at Record Highs, US Dollar Losing Bullish Momentum; Trump Projected to Win Popular Vote by 3.5% and All Swing States, Republicans to Win Senate; Bitcoin Retraces From Record High
Below is the full text of the Bank of Canada interest rate statement:
The Bank of Canada today reduced its target for the overnight rate to 3¼%, with the Bank Rate at 3¾% and the deposit rate at 3¼%. The Bank is continuing its policy of balance sheet normalization.
The global economy is...
Prior rate was 3.75% after 50 bps on October 23
Economists widely expected a 50 basis point rate cut
The market was pricing in a 90% chance of a rate cut
Prior statement said " If the economy evolves broadly in line with our latest forecast, we expect to reduce the policy rate further" but that...
The Bank of Canada interest rate decision will be announced at 9:45 AM with the expectations of a 50 basis point cut in rates.
Adam outlines the fundamental view in his post here:
In my video below, I analyze the key technical levels influencing the USDCAD rate decision. With the pair trading...
The central bank of India is the Reserve Bank of India (RBI) - supporting the local currency according to trader reports.
INR had been one of many currencies dropping against the rampant US dollar.
The rupee hit its lifetime low of 84.86 per dollar in early trading.
State-run banks are...