BoC reduced its overnight rate by 25bps to 4.25%, as widely anticipated. In its statement, the central bank highlighted the “opposing forces” at play on inflation. On one hand, excess supply is pushing inflation lower, while rising costs in the shelter and services sectors are keeping inflationary pressures elevated. BoC reaffirmed that future policy decisions […]
The post BoC cuts rates to 4.25%, continues to monitor opposing inflationary forces appeared first on Action Forex.
Key Highlights EUR/USD extended losses and tested the 1.0500 support. A key bearish trend line is forming with resistance at 1.0585 on the 4-hour chart. GBP/USD also extended losses and traded below the 1.2720 support. Read more…
BoJ Governor Kazuo Ueda reiterated in a speech today that the central bank remains committed to its gradual policy tightening path, conditional on the realization of its economic and price outlook. However, the timing of Read more…
New Zealand’s BusinessNZ Performance of Services Index rose slightly from 45.7 to 46.0 in October. Despite the marginal improvement, the index stayed well below the 50 threshold, indicating ongoing contraction in the sector for a Read more…