Core Viewpoint - The report suggests that if the Bank of Canada maintains interest rates, the Canadian dollar (CAD) may depreciate, indicating a potential for future rate cuts [1] Summary by Relevant Sections - **Interest Rate Outlook** - The market anticipates only a 15 basis point rate cut by the end of the year, reflecting a conservative pricing approach [1] - **Economic Risks** - Economic risks stemming from US-Canada trade negotiations may lead the Bank of Canada to encourage market expectations for further rate cuts, putting additional pressure on the CAD [1] - **Currency Forecast** - The expectation is that the USD/CAD exchange rate will reach 1.39 in the current quarter [1]

Core Viewpoint - European Central Bank (ECB) officials, specifically Kazimir, indicated that interest rates are expected to remain unchanged in September, provided there are no severe shocks to the economy [1] Group 1 - ECB's stance on interest rates is contingent on the absence of significant economic disruptions [1]

Core Viewpoint - The European Central Bank's decision to maintain interest rates after eight rate cuts is deemed reasonable by Governing Council member Nagel [1] Group 1 - The European Central Bank has implemented eight interest rate cuts prior to the current decision [1] - Maintaining the current interest rate is seen as a strategic move in response to economic conditions [1] - The decision reflects a cautious approach to monetary policy amid ongoing economic challenges [1]

Core Viewpoint - The European Central Bank (ECB) is expected to discuss more negative scenarios than previously anticipated due to recent trade tax threats from Trump, while maintaining interest rates unchanged in the upcoming meeting on July 24 [1] Group 1 - The ECB is likely to keep interest rates steady during the meeting scheduled for July 24 [1] - Discussions regarding potential interest rate cuts have been postponed until September [1]

Core Viewpoint - European Central Bank official Demarco suggests that interest rates should remain unchanged this month [1] Group 1 - The recommendation to maintain interest rates indicates a cautious approach towards monetary policy [1]

Core Viewpoint - The European Central Bank (ECB) can maintain interest rates unchanged in July without the need to lower rates to stimulate the economy [1] Group 1 - ECB Governing Council member Muller stated that there is currently no necessity to cut interest rates to boost economic activity [1] - The euro has recently appreciated significantly, yet it remains within historical volatility ranges [1]

Core Viewpoint - The European Central Bank (ECB) can maintain interest rates unchanged in July, indicating that there is currently no need for rate cuts to stimulate the economy [1] Summary by Relevant Categories Monetary Policy - ECB Governing Council member Müller stated that the current economic conditions do not necessitate a reduction in interest rates to boost economic activity [1]

智通财经6月23日电，美联储官员BOWMAN表示，6月会议上支持维持利率不变，劳动力市场稳健。美 联储将于7月22日就银行资本召开会议。 ...

Core Viewpoint - The Bank of Israel has decided to maintain the benchmark interest rate at 4.5% for the 11th consecutive time, reflecting a cautious stance amid escalating military actions in Gaza and rising inflation [1] Summary by Relevant Sections Interest Rate Decision - The decision to keep the interest rate unchanged aligns with the expectations of all 12 analysts surveyed [1] - This marks the 11th consecutive meeting where the rate has been held steady [1] Inflation Context - The annual inflation rate has deviated further from the central bank's target range of 1%-3% [1] - April's inflation rate reached its highest level in eight months, increasing from 3.3% in March to 3.6% [1] - The rise in inflation has been attributed to a sales tax increase earlier in the year [1] Future Outlook - Bank of Israel Governor Amir Yaron indicated that if inflation slows and market risk premiums remain manageable, the central bank may consider lowering interest rates in the second half of the year [1]

Core Viewpoint - The Bank of Japan has decided to maintain its target interest rate at 0.50% for the second consecutive meeting, aligning with market expectations [1] Group 1 - The decision to keep the interest rate unchanged reflects the central bank's ongoing monetary policy strategy [1] - This move is consistent with the Bank of Japan's efforts to support economic stability and growth [1]