TD’s chief economist on where rates, housing markets and crude oil prices will be heading next

The remaining months of the year may create significant volatility in markets. Economic data will be a focal point for investors along with the U.S. election.

On Thursday, the U.S. Federal Reserve will announce its rate decision. As of Monday, the market was pricing in a 99-per-cent chance of a 25-basis-point cut. However, there is greater uncertainty surrounding the Bank of Canada’s rate announcement decision at its Dec. 11 policy meeting. According to LSEG markets data, there is a 56-per-cent probability of a 25-basis-point cut and a 44-per-cent probability of another 50-basis-point cut.