Fed also to cut rates before the end of the year
Report suggest broad weakness in U.S. economy
Central banks show leadership through co-ordinated action, economists say
Bank of Canada lowers overnight rate target to 2.5%
Fed, Bank of Canada expected to trim rates by a further 50 bps at their upcoming rate announcements
But economists predict rates to drop by 75 basis points by the end of Q3 2009
Inflation expected to moderate
Central banks in both England and Europe left their key interest rates unchanged today as expected. But future cuts remain a possibility amid weak, uncertain growth, economists say.The European Central Bank (ECB) held rates steady at 4.25%; the Bank of England kept its Bank Rate at 5.0%.TD Economics says that the ECB indicated that the […]
Central bank reaffirms neutral stance, economists say
The European Central Bank and the Bank of England left their key interest rates on hold at 4.25% and 5%, respectively.TD economists are now looking towards possible rate cuts from both central banks in 2009.The ECB raised interest rates in July, but left them unchanged today as expected. TD reported that with oil prices down […]