The Federal Reserve concluded its last meeting of the year with a widely anticipated 25 basis point cut to the federal funds rate (FFR), bringing it to a range of 3.50-3.75%.

Watch live coverage as Fed Chair Jerome Powell holds a press conference after the Federal Reserve announces its interest rate decision. The Fed is expected to cut interest rates for the third time this year.

Wall Street widely expects a quarter point cut though the Federal Reserve board has less data to work with because of the recent US government shutdown.

The central bank is poised to lower interest rates on Wednesday even as a growing chorus of officials urge caution.

The Bank of Canada held its benchmark interest rate at 2.25 per cent on Wednesday, a move widely expected by economists. The market had 93.5 per cent odds that the BoC would hold, according to LSEG data.

Federal Reserve Board Chair Jerome Powell will give remarks today after the announcement of the board decision on interest rates Markets widely expect a quarter point cut in interest rates but it's unclear whether officials agree amid reports of a split

HELOC rates could fall in 2026 if the Fed rate-cutting trend continues, but there are other possibilities, too.