Canada's main stock index edged higher on Wednesday, helped by gains in commodity-linked stocks and the banking sector after the Bank of Canada (BoC) kept interest rates on hold as expected.
, becoming the first major central bank to suspend its campaign against soaring inflation, given price pressures are easing as forecast.was up 99.07 points, or 0.49%, at 20,374.61.
"There were no surprises from the BoC as it kept the policy rate unchanged as it previously hinted," Stephen Brown, deputy chief North America economist at Capital Economics, wrote in a note. "Despite the renewed hawkishness of central bankers elsewhere, we continue to judge that the bank's next move will be an interest rate cut."
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