TSX Muted Following BoC and Fed Meetings

2026-10-28 12:42 By Isabela Couto 1 min. read

The S&P/TSX Composite Index traded near flat around 36,000 on Wednesday after the Bank of Canada’s policy decision to hike interest rates to by 25 bps to 2.5%, as expected.

The bank said the decision aims to reduce the risk that continuing high energy prices spread broadly to the prices of other goods and services while noting that here could be a need to increase the policy rate further.

Meanwhile, the US Federal Reserve held rates steady as expected but offered no clear signal on a possible hike in December.

Financial stocks advanced, with BMO, Scotiabank, and CIBC gaining more than 0.5%.

Energy producers also rose as the oil rally resumed.

Canadian Natural gained nearly 2% ahead of next week’s results, while Imperial Oil added 1% ahead of Friday’s report.

Miners lagged as gold and silver prices fell.

Ahead of earnings reports due after the close, Agnico Eagle slipped 0.5%, Alamos lost 0.3%, Kinross fell 2%, and First Quantum dropped 1%.



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