Analysts at Bank of America see a huge flip to dovish for the US Federal Reserve and the Bank of Canada:
Forecast a 25bp rate cut at the next five Federal Open Market Committee (FOMC) meetings:
September 17-18, 2024
November 6-7, 2024
December 17-18, 2024January/February 31-1, 2025March 21-22, 2025
And, for the Bank of Canada:
25bp cuts at every meeting in the foreseeable futurepolicy rate to 3.75% by end-20243.00% by April 2025back of core inflation still trending downbar to cut 50bp is high (2Q growth rebound & BoC expect growth will strengthen further in 2H)bar to skip a meeting is also high
This article was written by Eamonn Sheridan at www.forexlive.com.
