The S&P/TSX Composite Index finished 0.3% higher at 36,265 on Wednesday after the Bank of Canada raised its benchmark interest rate by 25 basis points to 2.5%, in line with expectations. The central bank said the hike is intended to limit the risk that persistently elevated energy prices spill over into broader goods and services inflation, and signaled that further rate increases may be required. By contrast, the US Federal Reserve left its policy rate unchanged, also as anticipated.
Financial shares were generally stronger, with BMO and CIBC each advancing 0.6%. In the mining sector, several companies were set to report earnings after the close. Agnico Eagle gained 0.9% and Alamos rose 1.3%, while Kinross slipped 0.4% and First Quantum declined 0.5%. Teck Resources added 0.7% ahead of its results due Thursday, while Imperial Oil climbed 1.1% and Cameco advanced 1.3% before their scheduled reports on Friday.
Among energy names, Tamarack Valley inched up 0.1% after lifting its 2026 production forecast, and Trican Well Service rose 0.7% on the back of stronger third-quarter profit.
