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OTTAWA — The Bank of Canada was watching its words at its last interest rate announcement, in fear of spurring speculation that rate cuts are coming any time soon. That's according to the central bank's summary of deliberations released Wednesday detailing what the governing council discussed in the lead-up to its last rate decision. The Bank of Canada held its key interest rate steady at five per cent earlier this month amid signs of the economy weakening.
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Fed's 'big message' will be restrictive policy for longer: EconomistMarkets and investors are waiting and wondering how much the Fed's September interest rate decision will line up with expectations, with many anticipating a rate pause this month. SEI Chief Investment Officer Jim Smigiel and Dreyfus and Mellon Chief Economist Vincent Reinhart join Yahoo Finance Live to share their predictions on Fed Chair Jerome Powell's ultimate decision. 'The Fed does not like to disappoint when the market is kind of all lined up with an expectation like they are for this week, where there will be a pause — the Fed will deliver on that,' Smigiel comments on the market's hawkish sentiment. 'However, we do think there is, at the least, one more hike baked in the cake. So that will probably come in November.' 'The big message the Fed's going to want to convey is they're going to keep policy restrictive for as long as it takes,' Reinhart outlines. For more expert insight and the latest market action, click here to watch this full episode of Yahoo Finance Live.
Source: YahooFinanceCA - 🏆 47. / 63 Read more »
Fed leaves interest rates unchanged, implies one more hike aheadThe Federal Reserve is keeping its fed funds target rate unchanged at a range of 5.25% to 5.50%. Officials see the top end of the range as 5.75%, implying one more rate hike is ahead. In the statement, the Federal Open Market Committee reiterated that inflation remains 'elevated' and that job growth has slowed, but remains 'strong.' Yahoo Finance Federal Reserve Reporter Jennifer Schonberger breaks down the Fed's statement. For more expert insight and the latest market action, click here to watch this full episode of Yahoo Finance Live.
Source: YahooFinanceCA - 🏆 47. / 63 Read more »