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Bank of Canada Governor Tiff Macklem takes part in a news conference, after cutting key interest rate, in Ottawa, Ontario, Canada July 24, 2024.
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The Bank of Canada cuts interest rates again. Will the Fed follow?

After becoming the first central bank in the G7 to cut interest rates back in June, the Bank of Canada lowered rates again on Wednesday by 25 basis points to 4.5% – and suggested there may be more cuts to come.

Federal Reserve Chair Jerome Powell testifies to the Senate Banking Committee in Washington, DC.
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Central bankers forecast clouds, with a chance of rate cuts

Hopes for a break in the monetary policy clouds were frustrated this week as two North American central bankers said that interest rate cuts remain some way off.

A damaged section of a highway in Nuwakot, central Nepal
What We're Watching

Devastation in Nepal and China after flash flood, Tanzania’s political infighting tests its political stability, French presidential candidates face off in first debate

A massive wall of mud and rock crashed into a river along Nepal’s Himalayan border with Tibet on Wednesday, triggering catastrophic flooding that swept away bridges, destroyed buildings, swamped roads, and killed over 300 people.

Governor of the Bank of Canada Tiff Macklem walks outside the Bank of Canada building in Ottawa, Ontario.
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Know when to hold ‘em

On Wednesday, the Bank of Canada held its key rate unchanged at 5%, noting that the global economy is slowing along with inflation -- just not enough to lower rates. Meanwhile, economists in the United States expect the Fed to hold rates at a two-decade high until summer, if not longer.