Bank of Canada expected to cut rates due to slow growth, Eurozone and US flash PMIs monitored.

From Investing.com: 2024-10-18 09:55:00

Bank of Canada is expected to cut rates by 50 basis points at the October meeting due to sluggish growth and rising jobless rate, with inflation falling to a 3½-year low. Uncertainty looms, but a 50-bps cut is likely with potentially more in the future. Eurozone PMIs are set to determine if there will be further rate cuts by the ECB as the outlook remains grim. German and French economies face challenges but recent developments could offer some hope. UK PMIs and inflation data will provide guidance on potential rate cuts by the Bank of England, impacting the pound’s performance. In the US, flash PMIs will be closely watched to gauge the likelihood of further rate cuts by the Fed.



Read more at Investing.com: Week Ahead – BoC to Speed Up Rate Cuts; Flash PMIs Eyed for Growth Clues