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December 10, 2025 8:34 PM UTC
Powell in the press conference made clear that the Fed is now in a wait and see mood, with policy rates entering a broad measure of neutral policy rates. This means further weakening in labor demand and then consumption would be required to prompt an early 2026 cut. We are less upbeat than the Fed

December 10, 2025 7:21 PM UTC
The FOMC has eased by 25bps as expected to a 3.50-3.75% Fed Funds target range, with two hawkish dissents for no change from Schmid (who dissented in October) and Goolsbee, while Miran again dissented for a steeper 50bps ease. The dots are unchanged from September, implying one 25bps ease in both 20

December 10, 2025 4:21 PM UTC
Since the Bank of Canada eased rates to 2.25% in October and stated that policy was now at an appropriate level, Canada has delivered stronger than expected data on GDP and employment. The data has not been dismissed, but the BoC view that policy is at an appropriate level persists after today’s m