15.07.202614:20:52UTC+00TSX Edges Higher After BoC Policy Decision

The S&P/TSX Composite Index inched higher on Wednesday, moving above the 35,000 mark as investors digested the Bank of Canada’s latest interest rate decision. As widely anticipated, the BoC left its benchmark policy rate unchanged at 2.25%, citing signs of an improving economy. The central bank noted that growth is strengthening and that inflation, which has recently surged, is expected to moderate gradually. At the same time, it cautioned that significant risks and uncertainties persist, particularly those related to the conflict in the Middle East and evolving US trade policy.

Financials outperformed, with Royal Bank of Canada and Toronto-Dominion Bank posting modest gains, while Brookfield advanced more than 1.5%. Mining stocks also moved higher as firmer gold prices supported the sector, with Barrick and Wheaton Precious Metals each adding roughly 0.5%. In corporate news, Cogeco Communications (up 0.4%) is scheduled to report its third-quarter earnings after the closing bell. On the macroeconomic front, Canadian manufacturing sales climbed 1.3% month-over-month in May to a record C$78.1 billion.