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Mexican president-elect's team pledges economic stability
Mexico's finance minister reassured investors Tuesday that president-elect Claudia Sheinbaum would ensure the stability of Latin America's second-biggest economy, after her landslide election win rattled financial markets. The country's stock market dropped six percent on Monday as investors worried that the left-wing candidate's crushing victory would make it easier to push through reforms potentially damaging to the economy and business. Finance Minister Rogelio Ramirez de la O assured investors that "our project is based on financial discipline, respecting the autonomy of the (central) Bank of Mexico, ... (full story)
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Silver fell rather hard during the trading session here on Tuesday, as we continue to see a lot of noise. At this point, it looks very much like a market that wants to fall ...
In April 2024, compared with March 2024, industrial producer prices decreased by 1.0% in the euro area and by 0.7% in the EU, according to first estimates from Eurostat, the ...
In this presentation Jeffrey Christian provides a market update, discussing today's decline in gold and silver prices and the reasons behind this drop. The conversation then ...
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Private sector employment increased by 152,000 jobs in May and annual pay was up 5.0 percent year-over-year, according to the May ADP® National Employment ReportTM produced by the ...
There is universal anticipation that the Bank of Canada (BoC) will reduce its policy rate by 25 bps at its upcoming gathering on Wednesday, June 5. It will be the first rate cut ...
The Bank of Canada today reduced its target for the overnight rate to 4¾%, with the Bank Rate at 5% and the deposit rate at 4¾%. The Bank is continuing its policy of balance sheet normalization. The global economy grew by about 3% in the first quarter of 2024, broadly in line with the Bank’s April Monetary Policy Report (MPR) projection. In the United States, the economy expanded more slowly than was expected, as weakness in exports and inventories weighed on activity. Growth in private domestic demand remained strong but eased. In the euro area, activity picked up in the first quarter of 2024. China’s economy was also stronger in the first quarter, buoyed by exports and industrial production, although domestic demand remained weak. Inflation in most advanced economies continues to ease, although progress towards price stability is bumpy and is proceeding at different speeds across regions. Oil prices have averaged close to the MPR assumptions, and financial conditions are little changed since April. In Canada, economic growth resumed in the first quarter of 2024 after stalling in the second half of last year. At 1.7%, first-quarter GDP growt post: Bank of Canada: "With continued evidence that underlying inflation is easing, ... monetary policy no longer needs to be as restrictive." "Recent data has increased our confidence that inflation will continue to move towards the 2% target." post: BOC'S GOV. MACKLEM: IT IS REASONABLE TO EXPECT MORE RATE CUTS IF INFLATION CONTINUES TO EASE. post: BOC'S GOV. MACKLEM: WE ARE TAKING OUR RATE DECISIONS ONE MEETING AT A TIME.Bank of Canada Rate Cut: How It Alters The Housing Market It happened. The Bank of Canada finally lowered its overnight rate. It was a characteristically cautious reduction — 5% to 4.75% — but as the Bank’s first rate cut in over four years, it brings with it a certain sense of cloud-parting. “With continued evidence that underlying inflation is easing, Governing Council agreed that monetary policy no longer needs to be as restrictive and reduced the policy interest rate by 25 basis points,” the Bank of Canada stated in a press release. A lower overnight rate means most lenders will be rolling out slightly lower prime rates in the next 24 hours. Expect softer variable rates on personal loans, certain credit cards and the two-trillion-dollar elephant in the room, mortgages. What will a modest reduction in variable rates mean for the housing market? We won’t really know until there’s a few months’ worth of data to chew on, but here are the likeliest scenarios.
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- Posted: Jun 5, 2024 7:52am
- Submitted by:Category: Fundamental AnalysisComments: 0 / Views: 153