TSX ends up 0.7% at 24,423.34
Technology sector adds 1.3%
Energy gains 1.7% as oil settles 2.2% higher
BoC cuts key rate by 25 basis points
(Updates at market close)
March 12 (Reuters) – Canada’s main stock index rebounded on Wednesday, including gains for energy and technology shares, as U.S. inflation cooled and the Bank of Canada cut interest rates to help the domestic economy cope with an escalating trade war.
The Toronto Stock Exchange’s S&P/TSX composite index ended up 175.14 points, or 0.7%, at 24,423.34, after posting on Tuesday its lowest closing level in four months.
The Bank of Canada lowered its key interest rate by 25 basis points to 2.75% and raised concerns about inflationary pressures and weaker growth stemming from trade uncertainty and U.S. President Donald Trump’s tariffs.
“The trade conflict is certainly weighing on sentiment and economic activity and so they’re trying to get in front of this, to make…
