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There are sufficient reasons for the Bank of Canada to lower interest rates this week! The Canadian dollar is bearish, and hopes for a rebound are pinned on expectations of future interest rate cuts cooling down.
On June 5th at 21:45 Beijing time, the Bank of Canada will hold a rate decision. Currently, the market is roughly split on whether the central bank will take action now or wait until July. Howard Du, G10 Forex strategist at Bank of America, said, 'Ahead of the June Bank of Canada meeting, we maintain a bearish CAD stance.'
Hong Kong's Business Activity Contracts in May
Business activity in Hong Kong contracted once more in May after improving in March and April due to a fall in new orders and export conditions, according to data from S&P Global released Wednesday.
Hong Kong PMI Indicates Downturn in Business Conditions -- Market Talk
0121 GMT - The latest S&P PMI data for Hong Kong looks bleak, indicating a worsening of business conditions in the private sector in May. The headline PMI slid to 49.2 in May from 50.6 in April, signa
Bank of Canada Prepares for Interest-Rate Cut Pivot
The Bank of Canada is ready to pivot. The only question is when it will act.
Bank of Canada Can Stomach Faster Rate Cuts Than the Fed, Say Economists
The Bank of Canada could cut its benchmark interest rate up to three times before the Federal Reserve begins moving rates lower, say economists, downplaying the risk of a widening policy rate gap between the central banks.
Is the Bank of Canada nearing an interest rate cut? Will they take the first step in June?
Since 2024, Canada's inflation has been developing in the right direction, with investors believing that there is over an 80% chance of a rate cut in June.