On Wednesday, in an unscheduled move, the Federal Reserve (Fed) cut interest rates by 50 bps. According to analysts at the National Bank of Canada, the decision increases the odds of a more aggressive Bank of Canada. Key Quotes: “Today’s move, which speaks to the severity of the supply disruptions and services sector damage linked to the coronavirus, comes amidst elevated financial market volatility. Short-dated Treasuries rallied significantly in the wake of the surprise move, with expectations of additional near-term FOMC easing very much alive.” “Clearly the situation is evolving rapidly, and we have limited visibility in terms of what market conditions will look like come March 18th. In this context, we think the Fed may choose to further loosen monetary policy at its next meeting but the final decision will depend on incoming data and the evolution of financial conditions.” “Fed’s decision opens the door to a more aggressive move by the Bank of Canada at tomorrow’s meeting. We now see the BoC matching the Fed, opting for a 50 bp cut on Wednesday—monetary policy relief that comes despite the fact that Trudeau/Morneau appear ready to marshal fiscal policy in support of the Canadian economy.” FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next USD/CAD climbs to 1.3370 as WTI drops below $47 on OPEC headlines FX Street 3 years On Wednesday, in an unscheduled move, the Federal Reserve (Fed) cut interest rates by 50 bps. According to analysts at the National Bank of Canada, the decision increases the odds of a more aggressive Bank of Canada. Key Quotes: “Today’s move, which speaks to the severity of the supply disruptions and services sector damage linked to the coronavirus, comes amidst elevated financial market volatility. Short-dated Treasuries rallied significantly in the wake of the surprise move, with expectations of additional near-term FOMC easing very much alive.” “Clearly the situation is evolving rapidly, and we have limited visibility in terms of what… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.