TSX climbs after BoC keeps key rate unchanged at 2.25%
The S&P/TSX Composite rose over 0.5% above 36,000 after the Bank of Canada held its key policy rate at 2.25%, citing a broadening recovery but higher upside inflation risks and more uncertain growth.
The S&P/TSX Composite Index rose over 0.5% to trade above 36,000 on Wednesday after the Bank of Canada kept its key policy rate unchanged at 2.25%, as widely expected.
The BoC said recent data reaffirmed the Governing Council’s view of a broadening economic recovery.
However, the bank noted that upside risks to inflation have increased, while new tariffs have made the growth outlook more uncertain.
It left the future path for monetary policy open, saying it will adjust policy as needed.
Financials traded mostly higher, with RBC and TD Bank rising nearly 0.5%, while BMO and Scotiabank gained around 1%.
Miners rebounded as gold prices rose following a recent selloff, with Barrick and WPM rising nearly 4%, while Agnico Eagle added 2.5%.