Falling crude oil, natural gas, and base metals prices kept Canadian stocks range-bound on Wednesday, even though the Bank of Canada (BoC) slashed the policy interest rates by another 25 basis points to 4.25%, marking the third rate cut in a row since June. The S&P/TSX Composite Index ended the volatile session at 23,041 without any major change from its previous closing level.
Although commodity-linked sectors, including energy and mining, declined sharply for a second consecutive day, strong gains in real estate, healthcare, and utility stocks helped offset TSX losses.
In its latest statement, the Canadian central bank cited continuous easing inflationary pressures, as headline inflation slowed to 2.5% in July. While high shelter costs remain the biggest contributor to overall inflation, they are starting to decline. During his press conference, BoC governor Tiff Macklem highlighted the need for economic growth…
