(Bloomberg) -- Canadian stocks advanced for a fourth
straight day, after the Bank of Canada increased borrowing costs
for the first time in more than a year, as oil and gold prices
rose. Suncor Energy Inc. and Bank of Nova Scotia paced gains.
Central bank policy makers raised the overnight lending rate
by one quarter point to 4.5 percent, a six-year high, saying
``modest'' further tightening may be needed to curb inflation. The
bank also increased its forecast for economic growth this year to
2.5 percent from an April forecast of 2.2 percent.
Read more at Bloomberg Stocks News
straight day, after the Bank of Canada increased borrowing costs
for the first time in more than a year, as oil and gold prices
rose. Suncor Energy Inc. and Bank of Nova Scotia paced gains.
Central bank policy makers raised the overnight lending rate
by one quarter point to 4.5 percent, a six-year high, saying
``modest'' further tightening may be needed to curb inflation. The
bank also increased its forecast for economic growth this year to
2.5 percent from an April forecast of 2.2 percent.
Read more at Bloomberg Stocks News
No comments:
Post a Comment