TSX hits record high on energy boost, BoC meeting awaited [Financial Post (Toronto, Ontario, Canada)]
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Source: Financial Post
Bank of Canada could strike a hawkish note in its upcoming policy announcement kept gains in check. The Canadian energy index jumped more than 2% to lead sectoral gains in early trading after oil prices touched multi-year highs. Best Black Friday deals in Canada 2021 Advertisement “Looks like oil prices hit the highest since 2014 this morning and of course that will have positive implications for the energy-levered TSX,” said Candice Bangsund, vice president and portfolio manager, global asset allocation at Fiera Capital Corporation. Advertisement Article content “So we expect that to be a major contributor to positive, and even outperformance of the Canadian market versus its global peers.” Gains, however, were capped by rising bets that the Canadian central bank may start tightening monetary policy sooner than expected as it faces increasing pressure to raise interest rates ahead of schedule when it meets on Wednesday, amid rising inflation and a recovering jobs mark
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