TSX Flat as Bank of Canada Decision Awaited on Wednesday By Investing.com

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TSX Flat as Bank of Canada Decision Awaited on Wednesday

Published Jun 05, 2023 13:56

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TSX Flat as Bank of Canada Decision Awaited on Wednesday

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By Ketki Saxena

Investing.com -- The TSX traded flat in afternoon trading, as investors anticipate the Bank of Canada's interest rate decision later this week. While expectations are for the BoC to maintain its key interest rate at 4.50% for the remainder of the year, investors' expectations for a 25-basis-point increase have surged following an upswing in domestic inflation rates, and as the housing market heats up.

The Canadian index gained some support from crude prices after Saudi Arabia announced plans to slash output by another million barrels per day starting in July.

The Biggest Stories on Bay Street

Wesdome Gold (TSX:WDO) Mines Ltd announced that Anthea Bath will assume the role of CEO beginning July 1st

Richelieu Hardware (TSX:RCH) Ltd shares declined following CIBC (TSX:CM)'s brokerage downgrade to the industrial company's rating from "outperformer" to "neutral".

Canadian Stocks Moving Markets Today

Top Gainers:

Torex Gold (TSX:TXG)
MAG Silver (TSX:MAG)
IAMGold (TSX:IMG)

Top Losers:

Canopy Growth (TSX:WEED)
Filo Mining (TSX:FIL)
Tilray (TSX:TLRY)

In Canadian Economics

No Major Canadian Economic Data Expected

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