Canada's Central Bank Slashes Rates to Combat Economic Slowdown
Published: Wednesday, 11 December 2024 10:58 | 
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The Bank of Canada slashed its key interest rate by 50 basis points to 3.25% on December 11, 2024, marking its fifth consecutive cut. This aggressive move comes in response to rising unemployment, which hit 6.8% in November, and a weakening economy. The central bank aims to stimulate economic growth and consumer spending while keeping inflation within its 1-3% target range. This decision is expected to benefit variable mortgage holders and could potentially reignite Canada's housing market.
Big Bank Execs Predict Prosperous 2025
Published: Wednesday, 11 December 2024 10:08 | |
| Several major US banks express optimism for 2025, citing positive economic indicators and the potential impact of the incoming Trump administration. JPMorgan Chase, Citigroup, and PNC executives highlight expectations of increased revenues, higher investment banking fees, and improved trading performance.
November CPI Data Aligns with Forecasts, Bolstering Fed Rate Cut Expectations
Published: Wednesday, 11 December 2024 10:01 | |
| November's Consumer Price Index (CPI) rose 2.7% year-over-year, meeting economists' projections and supporting the Federal Reserve's anticipated rate cuts. The monthly increase of 0.3% was the largest since April, while core inflation remained steady at 3.3% annually. Despite persistent inflation in shelter and services, experts believe the Fed will proceed with a 25bp rate cut at the upcoming FOMC meeting.
Gold Prices Pause Before Key Inflation Figures
Published: Wednesday, 11 December 2024 09:55 | |
| Gold prices remain flat as markets brace for crucial US inflation figures. The upcoming CPI data could influence the Federal Reserve's decision on interest rates and shape expectations for monetary policy in 2025. With spot gold at $2,695.91 per ounce, investors are closely watching for potential catalysts that could drive the precious metal's next move.
Goldman Sachs: Gold to Reach $3,000 in 2025
Published: Wednesday, 11 December 2024 09:46 | |
| Goldman Sachs predicts gold prices could soar to $3,000 per ounce by the end of 2025, despite potential increases in the U.S. dollar's value. This forecast is based on expected interest rate cuts, heightened global uncertainty, and continued central bank buying. The analysts argue that gold can rally alongside a stronger dollar, challenging conventional wisdom. They cite factors such as Fed rate cuts, geopolitical tensions, and strategic diversification by key buyers like China as drivers for gold's potential surge.