Canada Stocks Close Lower; Sectors Mixed; Dovish Tone from BOC Caps Losses
Canadian stocks closed lower on Wednesday down 5 points,sectors were mixed with the Industrials the best performing sector in a down tape.
The Bank of Canada left interest rates unchanged on Wednesday but abandoned 18 months of warnings that interest rates will one day have to rise. The central bank stated that the soft economy and persistently weak inflation means there is as much chance of a rate cut as a rate hike. Bond prices climbed after the news, sending the Loonie lower.
Talisman Energy Inc. (TLM.TO) was the most active stock with no fresh specific stock news driving volume. The stock closed up 0.16% with 8.7 million shares changing hands.