Reuters Poll: BOC to cut overnight rate by 50 basis points on Oct 23

A Reuters poll is showing:

• 19 of 29 economists see the Bank of Canada cut rates by 50 basis points to 3.75% at their October 23 meeting
• 10 of 29 economists see a 25 basis point cut to 4.0%

By the end of 2024

• 10 of 29 economists see the rate at 3.5%
• 9 of 29 see 3.75%,
• 9 of 29 see 3.25% and
• 1 of 29 see 4.0%

The USDCAD is trading higher today after falling the last two trading days into support at 1.37449.

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