MID-DAY: TSX boosts on lower inflation data; Wall Street steadily grows ahead of interest rate decision
The TSX is gaining strength as the cost of living in Canada dips. The Bay Street index is up 91 points to 14,508 after Stats Can reported an inflation dip to 1.7 per cent in November. This is well below the Bank of Canada’s target 2 per cent.
Meanwhile, the Dow is gaining 194 points to 23,870 ahead of a decision by the US Federal Reserve on interest rates. Analysts are predicting one last hike is coming, but the Central Bank will likely pull back on its tightening policy in the new year. The decision is expected to come down at 2:00pm.
The price of crude is ambling ahead again after taking a major dip this week, with US oil up to 47.66 a barrel.
The Loonie is climbing to 74.48 cents US.