BoC Summary of Deliberations acknowledges widening divergence with US on policy
Source Fxstreet
The Bank of Canada's (BoC) latest Summary of Deliberations revealed little of note on Wednesday, although several members of the BoC's Governing Council are growing cautious about downside risks and the possibility of a widening divergence between Canada and the US on economic policy.
Key highlights
- Members agreed to emphasize in communications that they would take rate decisions one meeting at a time.
- Some members were more focused on the downside risks to inflation stemming from the weak economy and restrictive monetary policy.
- Members spent considerable time discussing risks around inflation path, such as large number of households renewing mortgages at higher rates in 2025.
- Ahead of the Bank of Canada's June 5th rate announcement, the governing council considered the merits of waiting until July 24th to cut rates.
- Members discussed the potential for divergence with US, agreed not close to reaching limits of such divergence.
- Others put more weight on upside risks associated with persistence in wage growth and potential for housing market rebound.
- Other risks include rate cuts leading to an overheated housing market, strong wage growth and weak productivity pushing up service price inflation.
Disclaimer: For information purposes only. Past performance is not indicative of future results.
Recommended Articles
September Fed Rate Decision Preview: Is a Rate Hike a Foregone Conclusion? US Stocks, Dollar, and Gold Face a Critical TestThe Federal Reserve will announce its September interest rate decision at 2:00 p.m. ET on Wednesday (September 16), followed by a press conference held by Fed Chair Kevin Warsh at 2:30 p.
The Federal Reserve will announce its September interest rate decision at 2:00 p.m. ET on Wednesday (September 16), followed by a press conference held by Fed Chair Kevin Warsh at 2:30 p.
Bitcoin falls below $75,000 as the CLARITY Act fails in the Senate — what the vote means for cryptoThe US Senate blocked the Digital Asset Market CLARITY Act in a 49-50 procedural vote, sending Bitcoin briefly below $75,000 — its biggest one-day drop since June. Ethereum fell more than 8%, Coinbase slid 10% and $75 billion of crypto market value evaporated. Here is what the vote was, why it failed, and the levels that matter now.
The US Senate blocked the Digital Asset Market CLARITY Act in a 49-50 procedural vote, sending Bitcoin briefly below $75,000 — its biggest one-day drop since June. Ethereum fell more than 8%, Coinbase slid 10% and $75 billion of crypto market value evaporated. Here is what the vote was, why it failed, and the levels that matter now.
Silver breaks $64 as precious metals rebound — can gold hold the $4,280 line into the Fed decision?Silver has climbed back above $64 an ounce for the first time this week, leading a broad rebound across precious metals hours before the Federal Reserve delivers what is expected to be its first rate hike since 2023. Spot silver was last at $64.64, up 1.49% on the day, while gold reclaimed $4,300 and platinum and palladium both advanced. The question now is whether the bounce is a genuine turn — or a pause before the Fed's dot plot decides the next move.
Silver has climbed back above $64 an ounce for the first time this week, leading a broad rebound across precious metals hours before the Federal Reserve delivers what is expected to be its first rate hike since 2023. Spot silver was last at $64.64, up 1.49% on the day, while gold reclaimed $4,300 and platinum and palladium both advanced. The question now is whether the bounce is a genuine turn — or a pause before the Fed's dot plot decides the next move.
Procedural vote on the Clarity Act falters, Bitcoin loses $75,000, and crypto stocks plunge across the board.On September 15, Eastern Time, the U.S. Senate procedural vote ended with 49 v
Supply risks in the Middle East continue to heat up, with international oil prices fluctuating at high levels.During Tuesday's Asian trading session, Brent crude futures (UKOIL-F) rose to
Related Instrument
