The US Federal Reserve (the Fed) voted unanimously to raise benchmark interest rates by 25 basis points to a range between 2.0 and 2.5 percentin September, following its two-day monetary-policymeeting.
The mid-term polls in the United States are expected to be held on November 6 of this year, with the Republicans currently controlling both chambers of the Congress: the Senate and the House of Representatives.
Aligning with market expectations, the Bank of Canada (BoC) left its benchmark interest rate unchanged at 1.25 percent and the deposit rate at 1.0 percent, following the conclusion of its monetary-policy meeting on May 30.
2017 has been nothing short of a rollercoaster ride for the Mexican peso. Starting with the election of US President Donald Trump, the Mexican currency suffered enormously as fears set in that the US-Mexico trade relationship would suffer enormously.
The Mexican economy has been on a bit of a ride these past 12 months. Peaking at US$1.29 billion in 2014, gross domestic product (GDP) has fallen consistently since then. Growth has hovered near the 2.3-percent mark in recent years, while consumption has been on the rise since 2014.
Written By: Mary Windsor – Forex Focus Amid fears surrounding the country’s overheated housing market, the Canadian banking sector exceeded…