By Karin Strohecker and Sumanta Sen
LONDON (Reuters) – The worldwide financial alleviating cycle ground along in October, with main banks throughout established and emerging economies decreasing interest rates ahead of the year’s greatest geopolitical occasion, the U.S. election.
Three of the 4 main banks supervising the 10 most greatly traded currencies that held conferences in October decreased criteria. Central banks in New Zealand and Canada each shaved 50 basis points off their interest rates while the European Central Bank provided a 25 bps cut.
Japan left rates thesame while the U.S. Federal Reserve as well as main banks in Australia, Switzerland, Norway and the UK did not hold rate-setting conferences.
Attention has now moved on to how deep and how long the rate-cutting cycle throughout established markets will be.
The U.S. election results might play a secret function in shaping U.S. and worldwide financial policy going forward, with the Fed extensively anticipated to cut rates by 25 bps on Thursday.
Democrat competitor Kamala Harris is seen as broadly preserving the