FX.co ★ TSX Steady After BoC Rate Hike

The S&P/TSX Composite Index was little changed around the 36,000 level on Wednesday following the Bank of Canada’s widely anticipated decision to raise its key interest rate by 25 bps to 2.5%. The central bank said the move is intended to limit the risk that persistently high energy prices spill over into broader inflation across goods and services, and signaled that further rate increases may be necessary. In contrast, the US Federal Reserve is expected to keep rates unchanged. Financial stocks were mostly muted. Among miners, Agnico Eagle slipped 1%, Alamos Gold declined 0.5%, and Kinross Gold fell 2%, while First Quantum Minerals was flat. Teck Resources advanced 3.5% ahead of Thursday’s earnings release, Imperial Oil added 1%, and Cameco inched up 0.2% before Friday’s results. Tamarack Valley gained 2% after raising its 2026 production guidance, and Trican Well Service jumped 6% on stronger Q3 earnings.