The S&P/TSX Composite index climbed 0.2% to surpass the 21,950 level on Wednesday, tracking the positive momentum for equities in the United States as markets digested the latest remarks from BoC officials.
Senior Deputy Governor Carolyn Rogers highlighted the urgency to address Canada’s declining labor productivity, signaling a need for accommodative monetary policy and underscoring the dovish momentum for some Governing Council members.
The heavyweight financial sector saw gains of around 0.5%, alongside a 0.6% increase in communication stocks.
Additionally, record-high gold prices contributed to the index’s growth, with Barrick Gold’s shares rising by 1.6%.
