On Oct. 26, the European Central Bank snapped a 15-month streak of rate hikes by keeping borrowing costs on hold at a record high, echoing the recent actions...
LONDON - What comes after the pause? On Oct. 26, the European Central Bank snapped a 15-month streak of rate hikes by keeping borrowing costs on hold at a record high, echoing the recent actions of the Federal Reserve and the Bank of England.
Interest rate futures show traders believe the BoEwill not cut rates, now at their highest since 2008, until at least June 2024.The Bank of Canada held its key overnight rate at 5% on Oct. 25. Current market pricing suggests investors think further hikes are unlikely, but are not betting on cuts. The mighty franc has helped the SNB control inflation, which at 1.7% year-on-year in September was comfortably within target. It also threatens Swiss exports at a time when the economy is stagnating.
Ruffer, a UK-based fund known for winning bets made in the volatility market, is now hoping for a big upswing in the Japanese yen.The Bank of Canada left its key interest rate unchanged, a widely expected move that comes amid growing evidence that rate hikes are weighing on the Canadian economy.
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