01:06:37 EDT Fri 29 Mar 2024
Enter Symbol
or Name
USA
CA



Royal Bank of Canada
Symbol RY
Shares Issued 1,385,789,289
Close 2023-01-30 C$ 135.07
Market Cap C$ 187,178,559,265
Recent Sedar Documents

Globe/wire say TD, rivals hear Fed mulling standing pat

2023-01-31 08:04 ET - In the News

See In the News (C-TD) Toronto-Dominion Bank

The Globe and Mail reports in its Tuesday edition that U.S. central bankers are signalling a quarter-of-a-percentage-point increase in their benchmark interest rate, the smallest since they kicked off their tightening cycle 10 months ago. A Reuters dispatch to The Globe reports that it is unclear whether they will continue to signal "ongoing increases" ahead for the policy rate. The Federal Reserve has included that phrase in every policy statement since March, 2022. The rate increase expected at the Federal Open Market Committee's Jan. 31 to Feb. 1 meeting would bring the policy rate to the 4.5-per-cent to 4.75-per-cent range. That is two quarter-point rate hikes short of the level most Fed policy makers in December thought would be "sufficiently restrictive" to bring inflation under control. "Does the word 'ongoing' really capture just two more hikes? It's a close call," said III Capital Management's Karim Basta. At the same time, he said, "there's going to be some caution" about doing anything that could feed market expectations that a pause in rate hikes is imminent. Reuters says financial markets are already pricing in an end to rate hikes in March, followed by rate cuts starting in September.

© 2024 Canjex Publishing Ltd. All rights reserved.