According to Jinshi, Societe Generale said that the blowout growth of the U.S. economy at the beginning of this year has slowed to a growth rate closer to trend. Most recent economic data show that price increases and the acceleration of economic activity have subsided and returned to the level of the fourth quarter. Inflation is expected to soften further over time, opening the door for the Fed to eventually cut interest rates. Currently, the agency is waiting for more economic data and central bank resolutions. The Bank of Canada is expected to cut interest rates to 4.75% this month, but any dovish forward guidance needs to be avoided if the Canadian dollar is to avoid further weakness.