TSX Steady After BoC Rate Hike
The S&P/TSX Composite Index traded near flat around 36,000 on Wednesday after the Bank of Canada’s policy decision to hike interest rates to by 25 bps to 2.5%, as expected. The bank said the decision aims to reduce the risk that continuing high energy prices spread broadly to the prices of other goods and services while noting that here could be a need to increase the policy rate further. Meanwhile, the US Fed is expected to hold rates steady. Financial stocks were mostly subdued. Agnico Eagle fell 1%, Alamos lost 0.5%, and Kinross dropped 2%, while First Quantum was flat. Teck Resources rose 3.5% ahead of Thursday’s earnings, while Imperial Oil gained 1% and Cameco added 0.2% ahead of Friday’s results. Tamarack Valley climbed 2% after raising its 2026 production forecast, while Trican Well Service surged 6% on higher Q3 profit.
The S&P/TSX Composite Index traded near flat around 36,000 on Wednesday after the Bank of Canada’s policy decision to hike interest rates to by 25 bps to 2.5%, as expected. The bank said the decision aims to reduce the risk that continuing high energy prices spread broadly to the prices of other goods and services while noting that here could be a need to increase the policy rate further. Meanwhile, the US Fed is expected to hold rates steady. Financial stocks were mostly subdued.
Agnico Eagle fell 1%, Alamos lost 0.5%, and Kinross dropped 2%, while First Quantum was flat. Teck Resources rose 3.5% ahead of Thursday’s earnings, while Imperial Oil gained 1% and Cameco added 0.2% ahead of Friday’s results. Tamarack Valley climbed 2% after raising its 2026 production forecast, while Trican Well Service surged 6% on higher Q3 profit.