TORONTO — 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.
TORONTO — 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.
“I think that they are done hiking,” said Brianne Gardner, senior wealth manager of Velocity Investment Partners at Raymond James Ltd. Though monetary policy in Canada tends to follow the U.S., Canada’s central bank was the first to hike rates and could be the first to hold or cut, noted Gardner. It’s a quieter week on Wall St. in terms of economic data amid the last trickles of corporate earnings season.
If more positive economic data continues to roll out, markets could go a little higher, said Gardner.
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