28.10.202614:15:38UTC+00TSX Steady After BoC Rate Hike

The S&P/TSX Composite Index traded largely flat around 36,000 on Wednesday following the Bank of Canada’s widely expected decision to raise its policy rate by 25 bps to 2.5%. The bank stated that the move is intended to reduce the risk that persistently high energy prices feed through more broadly into the prices of other goods and services, and signaled that further rate increases may be necessary. By contrast, the US Federal Reserve is expected to keep interest rates unchanged.
Financial stocks were mostly subdued. In the mining sector, Agnico Eagle slipped 1%, Alamos Gold declined 0.5%, and Kinross Gold fell 2%, while First Quantum Minerals was little changed. Teck Resources advanced 3.5% ahead of its earnings report on Thursday, Imperial Oil gained 1%, and Cameco added 0.2% before results due on Friday. Tamarack Valley Energy rose 2% after raising its 2026 production forecast, and Trican Well Service jumped 6% on stronger Q3 profit.