Federal Reserve to cut rates by 25 basis points at next two meetings- Reuters poll [Yahoo! Finance Canada]
SOCIETE GENL FRNCE S/ADR (SCGLY)
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Source: Yahoo! Finance Canada
Federal Reserve will cut its key interest rate by 25 basis points on Nov. 7, according to all 111 economists in a Reuters poll, with more than a 90% majority predicting another quarter-percentage-point move in December. Since the U.S. central bank kicked off its long-awaited easing cycle last month with a half-percentage-point reduction in the federal funds rate to a 4.75-5.00% range, news on the economy has been strong, including consumer spending and jobs data. The Fed's next policy meeting is scheduled to start just after the Nov. 5 U.S. presidential election, with opinion polls showing a neck-and-neck race but recent momentum behind Republican candidate Donald Trump. All 111 economists in the Oct. 23-29 Reuters poll predicted the Fed will switch back to a quarter-percentage-point reduction next week. More than 90% of them, a total of 103, expected the same-sized move in December, taking the fed funds rate to a 4.25%-4.50% range. "I expect we will get a 25-basis-point cut a
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