The Toronto Stock Exchange has enjoyed a more positive atmosphere today as the Bank of Canada confirmed that it is holding the interest rate at 1 per cent and gave a largely optimistic statement. Stephen Poloz said that a shift towards an economy driven by exports and investment appears to be under way. Although the energy sector is suffering from the lower oil prices the BoC statement welcomed the broader base of exports. Analysts are now suggesting that the 1 per cent benchmark rate of interest, which has been held since 2010, will stay until late in 2015.
The S&P TSX Composite Index closed up 133.98 (0.92 per cent)
The NYSE closed higher
Oil is trending slightly down
Gold is trending slightly up
The loonie is down marginally against the US dollar