Canadian Stocks Ended Flat.
London, Wednesday, 20 April 2022
The benchmark S&P/TSX composite finished practically unchanged on Wednesday, hovering around 22,000, as gains in the heavyweight oil sector outweighed losses in technology and healthcare.
On the data front, consumer prices in Canada increased 6.7 percent year over year in March, the fastest increase since January 1991, bolstering the case for the Bank of Canada to tighten monetary policy.
The central bank boosted interest rates by 50 basis points at its April meeting, and policymakers warned of more rate hikes if inflationary pressures remained well above target.
(Written and edited by: The Decision Maker)