In Wednesday's podcast, we noted that the Bank of Canada had appeared begin the new cycle of rate cuts when they trimmed their primary rate by 25 basis points. Today, the ECB played along as they, too, cut their primary rates by 25 basis points. So, The Fed is next, it's only a matter of when.
Of course, most of this is not unexpected. The BOC decision was sort of surprising but the ECB has warned for a few weeks that they would cut in June. And now they have:...
