Bank of Canada reduces policy rate by 50 basis points to 3¼%

Bank of Canada reduces policy rate by 50 basis points to 3¼%

From bankofcanada.ca

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 evolving largely as expected in the Bank’s October Monetary Policy Report (MPR). In the United States, the economy continues to show broad-based strength, with robust consumption and a solid labour market. US inflation has been holding steady, with some price pressures persisting. In the euro area, recent indicators point to weaker growth. In China, recent policy actions combined with strong ... (full story)

Added at 9:47am

*BANK OF #CANADA CUTS KEY RATE 50 BPS TO 3.25%, MATCHING EST. - BBG
*MACKLEM: 'WE ANTICIPATE A MORE GRADUAL APPROACH' TO POLICY
*BOC DROPS PROMISE OF FURTHER CUTS IF FORECASTS MATERIALIZE
*BOC: US TARIFF THREAT INCREASES UNCERTAINTY, CLOUDS OUTLOOK
— Christophe Barraud (@C_Barraud) December 11, 2024

Added at 9:48am

BOC: WE WILL EVALUATE NEED FOR FURTHER RATE CUTS ONE DECISION AT A TIME.
— FinancialJuice (@financialjuice) December 11, 2024

Added at 9:48am

BOC: CANADIAN Q4 GROWTH LOOKS WEAKER THAN EXPECTED.
— FinancialJuice (@financialjuice) December 11, 2024

Everyone was expecting a weaker CAD after rate cut

go down

If will go up after the press conference.

Quoting frioslegend

Disliked

Everyone was expecting a weaker CAD after rate cut

Ignored

WTI OIL up 2.5%
SP500 up 0.86%

Both CAD positive and yet CAD still down for the day. Expect CAD to continue down like Euro to toilet paper status

Pride always comes before destruction.... -Proverbs 16:18

- Older Stories
BOJ Is Said to See Little Cost to Waiting for Next Rate Hike
From bnnbloomberg.ca|Dec 11, 2024
Bank of Japan officials see a small cost to waiting before raising interest rates while still being open to a hike next week depending on data and market developments, according ...
Germany: Scholz files confidence-vote request to trigger snap election - BBG
From @C_Barraud|Dec 11, 2024|1 comment
post: #GERMANY | *SCHOLZ FILES CONFIDENCE-VOTE REQUEST TO TRIGGER SNAP ELECTION - BBG post: GERMANY'S SCHOLZ: **NEED TO TACKLE FISCAL DRAG BY END OF YEAR **NEED TO PREVENT RISE OF ELECTRICITY PRICES BY START OF 2025 **CALL ON LAWMAKERS TO WORK TOGETHER IN INTERESTS OF PEOPLE
Bank of Canada Likely to Reduce Interest Rate by 50bps
From money.usnews.com|Dec 11, 2024
The Bank of Canada is poised to cut its key policy rate by another 50 basis points on Wednesday as weak unemployment numbers and poor growth underscore an economy that needs ...

- Newer Stories
Macklem: Monetary Policy Decision Press Conference Opening Statement
From bankofcanada.ca|Dec 11, 2024
Good morning. I’m pleased to be here with Senior Deputy Governor Carolyn Rogers to discuss our policy decision. Today, we lowered the policy interest rates by 50 basis points. ...
BoC Press Conference: Policy Rate Announcement – December 2024
From bankofcanada.ca|Dec 11, 2024
Interest Rate Announcement — Press conference by Governor Tiff Macklem and Senior Deputy Governor Carolyn Rogers (10:30 (ET) approx.).
Crude Inventory Fell 1.4 Million Barrels Last Week, Says EIA
From streetinsider.com|Dec 11, 2024
U.S. crude oil refinery inputs averaged 16.7 million barrels per day during the week ending December 6, 2024, which was 251 thousand barrels per day less than the previous week’s ...

Related Stories