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Money markets are pricing in a 40 per cent chance of a hike next week as of Wednesday, up from 28 per cent before the data, and they fully expect an increase of 25 basis points by September.
Source: https://globalnews.ca/news/9735035/canada-gdp-march-q1-2023/
Money markets expect the central bank to raise benchmark rates above 5% by May, with a peak of 5.308% expected in July.
Source: https://financialpost.com/pmn/business-pmn/gold-listless-as-traders-look-to-u-s-data-for-fed-clues-2
Money markets have priced in an 86% probability that policymakers will reduce the Fed funds target rate by at least 25 basis points at the conclusion of their March policy meeting, according to CME’s FedWatch tool.
Source: https://genevatimes.ch/futures-mixed-as-year-end-approaches-rate-cuts-in-focus-by-reuters/