10月，加拿大10年期政府债券收益率升至3.28%以上，为7月以来的最高水平，此前美国国债收益率因投资者评估了加拿大银行的最新政策举措而上涨。中国银行将关键利率下调50个基点至3.75%，在连续三次下调25个基点后加快了宽松步伐。这一决定符合市场预期，是对通胀降温的回应，9月份整体通胀率降至1.6%，三年来首次低于中国银行2%的目标。此外，央行指出，人均消费放缓和劳动力市场疲软，失业率两年多来首次攀升至6.5%以上。中国央行表示，如果经济继续如预期般疲软，可能会进一步降息。在其最新的货币政策报告中，它预测通货膨胀将徘徊在目标水平附近，今年的GDP增长预计为1.2%，2025年为2.1%。

The yield on Canada’s 10-year government bond rose above 3.28% in October, its highest since July, following US Treasury yields as investors assessed the latest Bank of Canada policy move. The BoC cut its key interest rate by 50bps to 3.75%, accelerating its easing after three consecutive 25bps reductions. The decision, in line with market expectations, came in response to cooling inflation, with headline inflation falling to 1.6% in September, below the BoC’s 2% target for the first time in three years. Additionally, the central bank cited a slowdown in per capita consumption and a weakening labor market, as unemployment climbed above 6.5% for the first time in over two years. The BoC signaled further rate cuts could follow if the economy continues to soften as expected. In its updated Monetary Policy Report, it forecasted inflation to hover near target levels, with GDP growth projected at 1.2% this year and 2.1% in 2025.

加拿大央行加速降息，表明对通胀的信心增强。加拿大银行（BoC）将隔夜利率下调50个基点至3.75%，同时表示将继续使其资产负债表正常化。

Bank of Canada Accelerates Rate Cuts, Points to Greater Confidence in Inflation.The Bank of Canada (BoC) cut its overnight rate by 50 basis points, to 3.75%, while stating that it will continue with normalizing its balance sheet.

10月份加元兑美元汇率跌破1.38，为8月份以来的最低水平，此前加拿大银行宣布降息50个基点，并表示可能继续下调基准利率。这是在连续三次降息25个基点后，当前宽松周期的首次大幅降息。货币政策委员会指出，最近的数据显示通货膨胀放缓，劳动力市场疲软。9月份的通货膨胀率降至1.6%，三年来首次低于中国央行2%的目标，而失业率则升至两年多来的高点6.6%，然后回落至6.5%。加元也受到油价下跌的压力，限制了加拿大经济的出口额。

The Canadian dollar weakened past 1.38 per USD in October, its lowest since August, after the Bank of Canada delivered a 50bps rate cut and signaled that it is likely to continue lowering its benchmark rate. It was the first substantial reduction in the current easing cycle after three consecutive 25bps cuts. The MPC noted that that recent data showed a slowdown in inflation and a weakening labor market. Inflation in September fell to 1.6%, dipping below the BoC’s 2% target for the first time in three years, while the unemployment rate rose to an over two-year high of 6.6% before easing back to 6.5%. The loonie was also pressured by lower oil prices, limiting export turnover for the Canadian economy.

欧洲央行就12月降息50个基点的可能性展开激烈辩论。欧洲央行政策制定者之间正在就是否加快降息步伐展开越来越多的辩论，一些成员建议在12月可能降息50个基点。在9月份的通胀数据远低于预期，引发了关于适当政策反应的讨论后，这种可能性就出现了。

Debate heats up at ECB on possibility of a 50bps cut in Dec.A growing debate is emerging among ECB policymakers about whether to accelerate the pace of rate cuts, with some members suggesting a potential 50 bps reduction in December. The possibility arises after inflation data in September came in significantly lower than expected, fueling discussions on the appropriate policy response.