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Oct 23 - Futures for Canada's main stock index fell on Monday as lower prices of most commodities are expected to weigh on the index, while investors braced for the Bank of Canada's monetary policy meeting, due later in the week.The materials sector is expected to fall as copper prices tumbled to 11-month lows on China's property crisis, receding hopes of stronger stimulus in the top consumer of industrial metals.
All eyes will be on the Bank of Canada's interest rate decision, due Wednesday. The central bank is expected to hold rates at a 22-year high of 5.00%, according to a majority of economists polled by Reuters. Weighing on futures, the U.S. 10-year Treasury yield breached 5% and to its highest since 2007, the level it attempted to scale last week.
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