The Bank of Canada is considering the possibility of cutting interest rates three times before the Federal Reserve makes its first move. This decision comes as the Canadian dollar weakens against the U.S. dollar, raising concerns about the impact on the inflation outlook. Analysts predict that the BoC may begin rate cuts in June or
Economy
Wells Fargo analysts predict that the US Federal Reserve will not take aggressive action on interest rates in the near future. While rate cuts are expected this year, they believe that the “higher for longer” rate mentality would have been a major obstacle for stocks in the past. Market participants are relying on the ideas
Minneapolis Fed President Neel Kashkari recently addressed the pressing need for a careful evaluation of monetary policy, pointing out the uncertainty surrounding its impact on the economy. Kashkari expressed his concerns during a moderated discussion at the 2024 Williston Basin Petroleum Conference in Bismarck, North Dakota. He questioned the extent of downward pressure imposed by
The landscape of bitcoin trading has seen a significant shift in recent times, particularly in the participation of retail traders. Previously, retail traders were the driving force behind bitcoin’s biggest rallies, with their enthusiasm and FOMO fueling the market. However, recent data from U.S. crypto exchange Coinbase reveals a stark contrast. Consumer trading volumes in
The prediction that the Federal Reserve is likely to cut rates twice within the year starting in September has created a great deal of uncertainty in the market. Analysts at Evercore ISI have put forth two scenarios – one where there are two rate cuts and the other where there are none. This conflicting analysis
Recently, Iraq’s oil minister announced that Chinese companies have secured five more bids to explore oil and gas fields in the country. This news comes as the hydrocarbon exploration licensing round enters its second day, with Chinese companies emerging as the primary winners. Alongside them, Iraqi Kurdish company KAR Group also managed to secure two
Recently, British newspaper groups have expressed their concerns to Apple regarding the potential introduction of a “web eraser” tool that could block advertisements. According to a report by the Financial Times, Apple is developing an AI-based privacy feature for its Safari browser in the upcoming iOS 18 software update. This tool would enable users to
Billionaire investor Kenneth Griffin recently made a bold statement calling on his alma mater, Harvard University, to embrace “Western values” in the wake of turmoil across college campuses. In an interview with the Financial Times, Griffin criticized the current state of U.S. education, arguing that there has been a loss of focus on pursuing truth
The debate over whether U.S. interest rates are high enough has deepened among Federal Reserve officials. This was highlighted after a key survey showed a significant jump in consumers’ inflation expectations. Dallas Fed President Lorie Logan expressed concerns about potential upside risks to inflation, uncertainties regarding the restrictiveness of current policy, and the need for
Singapore’s Oversea-Chinese Banking Corp (OCBC) reported a better-than-expected 5% rise in first-quarter profit, surpassing market expectations. The bank’s net interest margin for the quarter slightly declined to 2.27% from 2.30% a year earlier. However, OCBC remains optimistic about its full-year forecast, expecting its net interest margin to be at the higher end of a 2.20%