The Bank of Canada maintained its overnight interest rate at 1% today (Wednesday), cut its 2013 economic growth forecast to 1.5% from 2%, and raised its 2014 economic growth forecast to 2.8% from 2.7%.
As I write this at 10:30 am EST, most of the commodities in my list are down and Canada’s TSX Index is down 103.21 from yesterday’s close. Most world market indices are also down.
Continued weakness in commodities may, finally, weigh negatively on equities, as I’ve written in several posts recently here, here, and here.
(Excerpt from BOC press release)
World Market Index Source: http://www.indexq.org/
