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The Bank of Canada (BoC) is widely anticipated to reduce its benchmark interest rate by a quarter percentage point on Wednesday, taking it to 2.50% after three consecutive ‘on hold’ decisions.
The risk rally on global indices takes a breather amid a typical market caution heading into the key central bank event risks, with the US Federal Reserve (Fed) policy announcements eagerly awaited.
The Pound Sterling (GBP) faces selling pressure against its major peers on Wednesday after the release of the United Kingdom (UK) Consumer Price Index (CPI) data for August.