From The Reminder:

Canada’s main stock index saw modest gains as the Bank of Canada kept its key lending rate steady, with US markets also recovering from previous losses. The S&P/TSX composite index closed up, while the Dow Jones industrial average and the S&P 500 index both saw increases. Central banks on both sides of the border discussed the need for caution regarding interest rate cuts. Bank of Canada governor Tiff Macklem’s commentary was more hawkish than expected, emphasizing the need to wait for higher rates to have an impact. Despite concerns about a weakening economy, Canada’s housing market remains strong. US Federal Reserve chair Jerome Powell’s testimony suggested a more cautious approach to rate cuts. Fresh data on US job openings showed stability, while the Fed’s report indicated slight economic growth. The Canadian dollar traded higher against the US dollar, with oil and gold prices also rising.



Read more at The Reminder: S&P/TSX composite makes moderate gain after rate decision, U.S. markets also rise