Goldman: Forecasts BOC to cut rates by 50 basis points December (up from 25 basis points)

Goldman Sachs forecasts that the Bank of Canada is to cut interest rates by 50 basis points in its December meeting versus prior forecast of 25 basis points.

• Forecasts BOC will continue to cut her interest rates until reaching a terminal rate of 2.25% in June 2025 versus prior forecast of 2.5%

The USDCAD moved above the 2022 high price of 1.3577 on Wednesday. In continue to run to the upside yesterday reaching a high price of 1.4064.

The pair has extended the price to a high of 1.4071 in trading today which is a level since May 18, 2020.

This article was written by Greg Michalowski at www.forexlive.com.