The Federal Reserve reduced its benchmark lending rate by 25 basis points Wednesday and said downside risks to employment have increased. The central bank's Federal Open Market Committee lowered interest rates to a range of 4% to 4.25%, in line with Wall Street's expectations.
The Federal Open Market Committee lowered the federal funds rate by 25 basis points at its meeting to a range of 4% to 4.25%, the FOMC's statement Wednesday afternoon showed.
After months of mounting pressure from President Donald Trump, the Federal Reserve on Wednesday cut its benchmark interest rate by 25 basis points to 4.00%-4.25%, delivering a widely expected move that ends a nine-month policy pause.
Housing starts fell by 8.5% to a 1.307 million annual rate in August, well below expectations, with single-family housing starts and multi-family starts both lower. Building permits fell by 3.7% to a 1.312 million rate in August. The number of homes under construction fell in the month, but completions surged, which should add to the supply of homes in the near term.
Financial stocks were rising in Wednesday afternoon trading, with the NYSE Financial Index and the Financial Select Sector SPDR Fund each adding 0.7%. The Philadelphia Housing Index was increasing 0.8%, and the Real Estate Select Sector SPDR Fund rose 0.6%. Bitcoin was declining 0.9% to $115,712, and the yield for 10-year US Treasuries was rising 3 basis points to 4.05%. Investors are awaiting ...
Financial stocks were advancing in Wednesday afternoon trading, with the NYSE Financial Index and the Financial Select Sector SPDR Fund each adding 0.7%. The Philadelphia Housing Index was increasing 0.8%, and the Real Estate Select Sector SPDR Fund rose 0.6%. Bitcoin was declining 0.9% to $115,712, and the yield for 10-year US Treasuries was rising 3 basis points to 4.05%. Investors are awaiti...
The Bank of Canada cut its overnight rate by 25bps to 2.0% on Wednesday, as widely expected by almost all and basically fully priced going in, said Scotiabank.
The Bank of Canada cut its policy rate by 25bps to 2.50% on Wednesday, in line with market expectations, said TD. The statement noted that "underlying inflation is running around 2.5%" and that the removal of retaliatory tariffs on imports from the United States "will mean less upward pressure on the prices of these goods going forward."
The Bank of Canada lowered its overnight rate by 25 basis points to 2.50% on Wednesday, right in line with market expectations, said Geoff Phipps, portfolio manager and trading strategist at PICTON Investments. However, just a few weeks ago, in late August, markets were priced for only a 50% chance of a September cut.
The Bank of Canada lowered its overnight rate by 25 basis points to 2.50% on Wednesday, right in line with market expectations, said Geoff Phipps, portfolio manager and trading strategist at PICTON Investments. However, just a few weeks ago, in late August, markets were priced for only a 50% chance of a September cut.
The Bank of Canada cut its key overnight lending rate 25 bps on Wednesday to 2.50%, the first cut in six months and in line with widespread expectations, said Bank of Montreal. The explanation for the shift in the BoC's view since the prior meeting in July was straightforward and is very much in tune with the bank's logic on Wednesday's decision. -- 1) The labor market has softened further.
National Bank of Canada on Tuesday maintained NanoXplore's (NNXPF) sector perform rating and $2.80 price target. NanoXplore (NNXPF) posted results in the fourth quarter of its fiscal 2025, including revenue of $31.7 million that missed the bank's estimate of $35.6 million and the consensus forecast of $33 million.
The Federal Reserve is widely expected to lower interest rates by 25 basis points later on Wednesday, bringing the federal funds target to 4.00%-4.25%?a policy shift that, while highly anticipated, may offer little fuel to a stock market already trading at all-time highs if history is any guide. Over the past 25 years, the S&P 500 has often struggled following a Fed rate cut.
US housing starts tumbled more than projected in August amid weakness in both single and multi-family units, while building permits dropped for the fifth straight month, government data showed Wednesday. Housing starts plunged 8.5% sequentially to a seasonally adjusted annual rate of 1.31 million units last month, according the Census Bureau and the Department of Housing and Urban Development.
The Bank of Canada lowered its overnight rate by 25 basis points to 2.50% on Wednesday, right in line with market expectations, said Geoff Phipps, portfolio manager and trading strategist at Picton Mahoney Asset Management. However, just a few weeks ago, in late August, markets were priced for only a 50% chance of a September cut.
The Bank of Canada lowered the policy rate 25 basis points to 2.50% on Wednesday, still within its estimated neutral rate range of 2.25% to 3.25%, said Desjardins. The accompanying communications cited dissipating momentum in underlying inflation measures, diminishing fears of tariff-induced inflation ahead, and the further deterioration in the labor market seen this summer.
Bank of Canada Governor Tiff Macklem said Wednesday the Governing Council cut its policy interest rate by 25 basis points to 2.50%, citing a weaker economy and easing inflation pressures. The remarks came in an opening statement for his press conference, scheduled to begin at 10:30 a.m. ET and published on the central bank's website.
Bitcoin is hovering around $116,000 ahead of Wednesday?s Federal Reserve interest rate decision as traders on Polymarket are heavily betting on both a 25 basis points and a 50 basis points cut. What Happened: At the time of writing, a 25 basis points cut is priced at 90%, compared to 8% for a 50 basis points cut and 2% for no cut.
The Bank of Canada resumed cutting rates on Wednesday, taking the overnight rate 25bps lower and into accommodative territory at 2.50%, as widely expected, said CIBC. The move follows a cooling in underlying inflation pressures and a broadening deterioration in the labor market, along with ongoing trade uncertainty that is constraining investment, as cited in the BoCs statement, noted the bank.
The Bank of Canada Wednesday cut its target for the overnight rate by 25 basis points to 2.50%, with the Bank Rate at 2.75% and the deposit rate at 2.45%, matching most economists' expectations. In the months ahead, slow population growth and a weaker labor market are likely to weigh on household spending, the central bank said in a statement.
Community Associations Institute, the leading international authority supporting condominium associations, homeowners associations, and housing cooperatives, is urging the Trump administration to expand Federal Housing Administration loan flexibility for condominiums in collaboration with the Community Home Lenders of America.
Markets are fully pricing in a 25bps rate cut by the Bank of Canada on Wednesday, said ING. The BoC is slated to release its policy statement at 9:45 a.m. ET on Wednesday. Tuesday, Canada reported headline inflation at 1.9% year over year, below the 2.0% consensus, while core measures were unchanged at 3.0/3.1% as expected.
The Canadian province of British Columbia is projecting an $11.6 billion deficit, or 2.6% of gross domestic product, in the Q1 fiscal update, deeper than the $10.9 billion laid out in the 2025 budget, said Bank of Montreal. This continues a lengthening run of B.C. posting deeper and more prolonged budget deficits, noted the bank.
Gold moved down from a record high early on Wednesday as the dollar rose even with the Federal Reserve expected to cut interest rates for the first time this year when it ends the two-day meeting of its policy committee this afternoon. Gold for December delivery was last seen down US$18.20 to US$3,706.90 per ounce, falling off Tuesday's record high.
August housing starts fell by 8.5% from the previous month to a 1.307 million annual rate, below expectations compiled by Bloomberg as of 7:40 am ET for a 1.365 million rate after an increase to a 1.429 million pace in July. Building permits decreased by 3.7% to a 1.312 million rate in August, below the 1.37 million rate expected and following a decline to a 1.362 million rate in July.
Broad asset classes are generally little changed so far early Wednesday as they await the Federal Reserve and Bank of Canada decisions, said Scotiabank. Overnight developments included soft United Kingdom core consumer price index and another Bank Indonesia surprise cut amid political turmoil, noted Scotiabank. Brazil's central bank is also on tap after the Fed on Wednesday.
The US dollar rose against its major trading partners early Wednesday, except for a decline versus the yen, as markets look ahead to the Federal Open Market Committee's meeting announcement at 2:00 pm ET and Federal Reserve Chairman Jerome Powell's press conference at 2:30 pm ET.
Tuesday's Canadian inflation figures were broadly in line with expectations, said Commerzbank. The only deviation from expectations was the headline rate, which was slightly lower than anticipated due to volatile components, wrote the bank in a note to clients. As expected, the trimmed mean, which excludes volatile components, declined.
Wall Street futures inched lower pre-bell Wednesday ahead of the much-anticipated rate decision from the Federal Reserve. The nation's central bank is widely expected to announce a 25-basis-point cut in its key policy interest rate at 2 pm ET. In the futures, the S&P 500 and the Nasdaq declined 0.1% each, while the Dow Jones was little changed.
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