TORONTO, May 22 (Reuters) – Canada’s commodity-linked main stock index will take a breather for the rest of this year but is set to notch record highs as metal prices climb and expected lower borrowing costs bolster the outlook for the domestic economy, a Reuters poll found.
The TSX has added 7.2% since the start of the year, moving above its previous record closing high set in March 2022 to end at 22,468.16 on Tuesday.
“We anticipate the stock market to continue its upward momentum into the summer and beyond, driven by robust earnings and interest rate cuts on the horizon,” said Brandon Michael, senior investment analyst at ABC Funds.
Investors have raised bets on the Bank of Canada beginning an easing cycle with its next policy announcement on June 5 after data on Tuesday showed the annual rate of inflation falling to a three-year low of 2.7%.
The median prediction of 21 portfolio managers and strategists in the May 13-22 poll was for…
