The statement made three references to the uncertainty of the economic outlook, which has required the BoC to act cautiously. What was missing from the rate statement and press conference was any forward guidance about future rate cuts, as the central bank doesn't want to be pushed into any corners with regard to future decisions. If inflation risks continue to fade, the BoC could deliver one or even two rate cuts before the end of the year. Federal Reserve poised to lower ratesThe Federal Reserve is virtually certain to lower rates at today's meeting, barring a monumental surprise. With the rate decision virtually a given, investors will be looking for some clues as to whether the Fed is looking at further rates cuts before the end of the year.