Canada's main stock index fell on Wednesday, dragged by financial and industrial stocks after the Bank of Canada(BoC) left its key overnight interest rate on hold, as expected, at 5.00%, but kept the doors open for further rate hikes. At 10:21 a.m. ET (14:21 GMT), the Toronto Stock Exchange's S&P/TSX composite index was down 74.39 points, or 0.36%, at 20,339.37. The Bank of Canada on Wednesday held interest rate steady, noting the economy had entered a period of weaker growth, but said it could raise interest rates again should inflationary pressures persist.
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It's set to make its next interest rate decision on Wednesday."Your rate hikes haveOnly 33% of people believe economic outlook will improve over next 60 daysToronto's grim fiscal outlook takes centre stage at city council today, with a raft of possible new taxes and fees up for consideration to avert the crisis.
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What are economists expecting from Wednesday’s Bank of Canada rate decision?Economists are calling for the Bank of Canada to hit pause on interest rate hikes this week as the economy shows signs of overall cooling.
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Bank of Canada to announce interest rate decision Wednesday morningThe Bank of Canada is set to announce its interest rate decision as forecasters widely anticipate the central bank will hold its key rate
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S&P/TSX composite posts loss Tuesday ahead of rate decision, U.S. markets also lowerTORONTO — Canada's main stock index moved lower as investors await an interest rate decision from the Bank of Canada Wednesday, while U.S. stock markets also posted losses. The S&P/TSX composite index was down 131.60 points at 20,413.76. Energy stocks and battery metals moved higher, while telecom, utilities and base metals led market weakness. The Bank of Canada is set to announce its latest rate decision on Wednesday. The central bank is widely expected to hold its key rate steady, but the que
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Bank of Canada seen holding rates steady after economy shrank in Q2The Bank of Canada on Wednesday is expected to keep rates on hold at a 22-year high of 5% after the economy unexpectedly shrank in the second quarter, analysts said. The central bank hiked rates by a quarter point in both June and July, and then said it was prepared to raise rates again to tame inflation that has remained above the bank's 2% target for 27 months. 'The Bank of Canada has the cover in the GDP data to stay on pause with a hawkish bias,' Derek Holt, vice president of economics at Scotiabank, said in a note.
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Bank of Canada expected to hold rates steady as economy stallsAnalysts expect the central bank will keep its benchmark interest rate at 5 per cent Wednesday
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