India, July 15 -- Canadian stocks inched higher on Wednesday amid the Strait of Hormuz crisis due to a deepening U.S.-Iran conflict while investors assessed the monetary policy released after Bank of Canada's decision to hold its policy rate at 2.25%.
After opening higher than yesterday's close, today the benchmark S&P/TSX Composite Index lost momentum early in the session but gained ground later to trade positive through the rest of the session before settling at 35,416.20, up by 95.66 points (or 0.27%).
Six of the 11 sectors posted gains today, with the financials sector leading the pack.
Today, for the sixth consecutive time, the Bank of Canada held its target for the overnight rate at 2.25%, with the Bank Rate at 2.50% and the Deposi...