The Bank of Canada’s independence could be tested as Mark Carney, former governor of both the Bank of Canada and the Bank of England, is now running for leader of the Liberal Party.

Liberal Party candidate Ruby Dhalla has joined the race to replace Justin Trudeau as Canada’s prime minister. Born in Winnipeg’s Manitoba to immigrants from Punjab, Dhalla has been part of the Liberal Party since she was a teenager.

The European Central Bank cut rates on Thursday, the Bank of Canada on Wednesday, and the Bank of England is likely to do so next week.

Since Mark Carney became a candidate for the leadership of the Liberal Party of Canada, images appearing to show him with Ghislaine Maxwell, Jeffrey Epstein and Klaus Schwab have started to circulate on social media.

WASHINGTON - US President Donald Trump is getting his wish that interest rates drop across the world, just not at home where a strong economy and uncertainty over his own policies have set the stage for the Federal Reserve to diverge from its central bank peers.

The 2008 financial crisis and its aftermath vaulted central bankers from obscure technocrats to leading actors in the global economy.

US President Donald Trump is getting his wish that interest rates drop across the world, just not at home, where a strong economy and uncertainty over his own policies have set the stage for the Federal Reserve to diverge from its central bank peers.

Saturday could be the best indication so far, when Trump has promised to slap neighbours Canada and Mexico with 25% levies until both illegal migrants and the drug fentanyl stop crossing their borders. In scope for tariffs are a combined trillion dollars of U.S.-bound shipments a year.

The yen was set for its best January performance since 2018 on Friday, driven by the expectation for Japanese interest rates to keep rising, while the Mexican peso and Canadian dollar held firm ahead of U.

The Fed left interest rates on hold at its January meeting and signaled that it was in no hurry to cut rates further. U.S. money markets currently price in just under two 25 basis-point rate cuts this year, with a first reduction unlikely until June.

As universally expected, the Federal Open Market Committee (FOMC) left its target range for the federal funds rate unchanged at 4.25%-4.50% on Wednesday. With inflation remaining stubbornly above target and real economic activity holding up reasonably well, we see little reason for the FOMC to cut rates in the near term.

The first central bank meetings of 2025 suggest it will be a year in which policymakers go their own way as economic paths diverge, as the United States holds interest rates steady, the eurozone cuts,