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:
Top Losers:
In Canadian Economics
No Major Canadian Economic Data Expected