BoC's Macklem: We don't have to do what the Fed does
Source Fxstreet
Bank of Canada (BoC) Governor Tiff Macklem hit newswires late Wednesday, reiterating that the BoC isn't beholden to following the Federal Reserve's (Fed) playbook as the two central banks grapple with slightly different economic situations.
Key highlights
- BoC is getting close to being able to cut rates.
- GDP growth is expected to be 1.5% in 2024, 2.0% in 2025 and 2026.
- Data since January has increased our confidence that inflation will continue to come back down.
- BoC expected core inflation to continue to ease gradually.
- Growth in the Canadian economy appears to be picking up.
- Monetary policy appears to be working.
- BoC does not have to do whatever the Fed does.
Disclaimer: For information purposes only. Past performance is not indicative of future results.
Recommended Articles
Despite higher-than-expected Producer Price Index (PPI) inflation data for November, Bitcoin surged to new eight-week highs, diverging from US stock markets.
Standard Chartered lifts Ethereum call to $7,500, arguing institutional demand could leave Bitcoin trailingStandard Chartered raised its year-end Ethereum target to $7,500 (from $4,000), citing institutional demand, while projecting $25,000 by 2028 and scenarios toward $40,000 by 2030 amid ETF- and treasury-driven accumulation.
Standard Chartered raised its year-end Ethereum target to $7,500 (from $4,000), citing institutional demand, while projecting $25,000 by 2028 and scenarios toward $40,000 by 2030 amid ETF- and treasury-driven accumulation.
Silver price corrects almost 6% to near $86.50 during the Asian trading session on Thursday.
Bitcoin shows strong correlation with institutional demand following 7% uptickBitcoin's price has largely tracked net institutional demand over the past year, according to Bitwise. Net institutional demand is the buying activity of global exchange-traded products (ETPs) and treasury companies minus new supply.
Bitcoin's price has largely tracked net institutional demand over the past year, according to Bitwise. Net institutional demand is the buying activity of global exchange-traded products (ETPs) and treasury companies minus new supply.
US Dollar Index steadies above 99.00 ahead of Retail Sales, PPI dataThe US Dollar Index (DXY), which measures the value of the US Dollar (USD) against six major currencies, is inching lower after registering modest gains in the previous session. The DXY hovers around 99.10 during the Asian hours on Wednesday.
The US Dollar Index (DXY), which measures the value of the US Dollar (USD) against six major currencies, is inching lower after registering modest gains in the previous session. The DXY hovers around 99.10 during the Asian hours on Wednesday.
Related Instrument
