The S&P/TSX Composite Index climbed more than 0.5% on Wednesday, trading above the 36,000 mark after the Bank of Canada left its key policy rate unchanged at 2.25%, in line with expectations. The central bank said recent data reinforced the Governing Council’s view that the economic recovery is broadening. At the same time, it warned that upside risks to inflation have increased and that newly imposed tariffs have added uncertainty to the growth outlook. The BoC left its policy trajectory flexible, reiterating that it will adjust monetary settings as conditions warrant.
Financials were mostly higher: RBC and TD Bank each advanced nearly 0.5%, while BMO and Scotiabank rose about 1%. Mining stocks rebounded as gold prices recovered from a recent selloff, with Barrick and Wheaton Precious Metals (WPM) gaining close to 4% and Agnico Eagle adding 2.5%.
