Central Banks' Rate Cuts and Currency Movements

Central banks in Canada and the US are anticipating interest rate cuts in 2024 to address inflation concerns. Bank of Canada Governor Tiff Macklem expects a challenging first half of 2024 due to higher interest rates, while the Federal Reserve's President suggests potential rate cuts to prevent overtightening and maintain price stability. The Canadian dollar weakened slightly against the US dollar, influenced by rising oil prices and expectations of central bank interest rate cuts.