Live news: Canadian dollar drops after Bank of Canada holds rates — what it means for you – County Weekly News
Oct 26, 2023
The latest business news as it happens
Today’s top headlines
- Big grocers being cagey about their inflation-busting plans, but many are already in place
- Banks are taking it on the chin, but here’s why they deserve a second look
- 3% by the end of 2024: What economists say about Bank of Canada’s latest rate decision
A slide in big tech weighed on stocks, while Treasury yields fell as economic data reinforced the case for a United States Federal Reserve pause next week — with traders betting the central bank is most likely done with rate hikes.
The Nasdaq 100 dropped almost one per cent as Meta Platforms Inc. sank after dashing investors’ hopes for a long-term advertising recovery. United Parcel Service Inc. — an economic barometer — cut its profit target. Two-year U.S. government yields, which are more sensitive to imminent policy moves, dropped five basis points to 5.06 per cent.
Read More: https://www.countyweeklynews.ca/news/live-news-top-business-stories-october-26-2023
