Economics
Traders Rev Up Bets on Who’s Next After Fed’s Emergency Cut
- Canada seen following U.S., Australia in cuts this week
- G-7 policy makers pledge to shelter economies from coronavirus
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Traders are betting other global central banks will follow the U.S. and Australia in cutting interest rates to combat the economic damage wrought by the coronavirus.
Money markets are expecting the Bank of Canada to jump into action at its meeting on Wednesday -- followed by the European Central Bank and the Bank of England -- after Tuesday saw the Federal Reserve make an emergency 50-basis-point move and the Reserve Bank of Australia lower borrowing costs to a record.