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BOC Decision Day | US Equities Reach Record Highs

Published April 24, 2019
  • This morning Bank of Canada Governor Poloz is expected to place a hold on further interest rates increases. Markets are anticipating that policy makers will leave the benchmark overnight rate at 1.75%. This comes at a time when disappointing Canadian economic data, coupled with slowing global growth will likely prompt Poloz to formally put an end to his rate hiking cycle.
  • Later this evening the Bank of Japan monetary policy meeting is in focus. The Bank of Japan is expected to leave its policy rate unchanged at -0.1% with an unchanged tiering system on applicable reserves, an unchanged pace of asset purchases.
  • US stocks reached record highs on Tuesday extending a months-long recovery in spite of continued uncertainty over the outlook for the global economy. The benchmark S&P 500 ended the day 0.9% higher at 2,933.
  • US Trade Representative negotiator Robert Lighthizer and Treasury Secretary Steven Mnuchin will travel to Beijing next week as both sides seek to have a trade agreement signed in the coming weeks.