RE:Whats driving the stock is interest rates, boys and girls!Ok teach. LOL.
So everyone expects a 1/2 point cut by the FED in September. Aside from market sentiment that doesn't really help BCE but it does allow the BOC to continue their rate cutting without devaluing the dollar even more than they have already.
As for gutsy the BOC did cut first but because of the reasons listed above they can't really cut more or sooner.
That being said I think you'll see the FED get to a full point lower than now before YE (possibly before the election in November) which will allow the BOC to cut another full point from here making it 1.5 percent down total for 2024.
Definately should help going into the top of the cycle.
GLTY and all
flush777 wrote: I foresee the US Feds reducing 1/2 of 1% within 30 days and possibly the Bank of Canada by another 1/2%, a match to the US Feds plus an additional 1/2% to reflect the special situation of the Canadian economy, but I have some doubts as to the Bank of Canada being gutcy here since not a lot of initiative shown historically ...