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Market Holds Breath: BoC & Fed Meetings Loom
8 Dec
Summary
- Canadian stock futures flat ahead of central bank meetings.
- Strong jobs data solidifies expectations of Bank of Canada rate hold.
- Teck Resources merger vote nears as Anglo American adjusts bonus proposal.
Futures for Canada's main stock index showed little change as the market braced for significant central bank announcements. Investors are keenly observing the upcoming policy meetings of the Bank of Canada and the U.S. Federal Reserve, which are expected to shape market direction.
Stronger-than-expected employment figures in Canada have reinforced the likelihood that the Bank of Canada will maintain its current interest rates. Market participants widely anticipate a rate hold, with projections indicating potential increases in 2026, following earlier rate cuts this year.
In corporate news, Anglo American has withdrawn a controversial proposal concerning executive bonuses related to its merger with Teck Resources. This move comes as Teck shareholders prepare to vote on the proposed merger on December 9.
