RBC expects the Bank of Canada to cut its benchmark rate by another 50bp at its meeting on Wednesday, December 11, 2024:
- adding to a 50 bps cut in October and 125 bps in total cuts since June
- We still expect further interest rate cuts to be required in the year ahead with the overnight rate eventually falling below the Bnk's neutral range estimate of 2% in mid-2025.
Earlier preview:
- Goldman Sachs: BOC meeting on Wednesday – Default issue and other conditions
- USD/CAD is rising above 1.41 as the Bank of Canada's jumbo rate cut approaches
Macillem will speak at 1530 GMT, 1030 Eastern time.
This article was written by Eamonn Sheridan at www.forexlive.com.
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