The Conundrum Facing Fed Policymakers

June 10, 2024 — Last week, the European Central Bank and the Bank of Canada each lowered their respective policy rates by 25 basis points, as widely expected. However, the ECB and BOC offered slightly diverging guidance. The ECB significantly revised its growth forecast for 2024 (by +0.3% to 0.9% growth) and emphasized a data dependent stance, failing to provide strong guidance for future rate cuts. Conversely, the BOC offered dovish guidance, signaling further cuts if inflation continues on its current trajectory.

  • DATE: June 10, 2024
  • TYPE: PDF
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