Canadian stocks rise, BOC updates economic outlook
SAN FRANCISCO (MarketWatch) -- The S&P/TSX benchmark index headed for a fourth straight session of gains early Wednesday, adding 35 points, or 0.3%, at 11,606. A 1% increase in metals and mining stocks and a 0.6% gain in the consumer staples sector led percentage gainers. The Bank of Canada released its monetary policy report, which included economic growth projections of 2.1% and 2.3%, in 2012 and 2013, respectively. The bank said global growth prospects have declined, and estimated core inflation to remain unchanged at roughly 2% and the consumer price index to lie below its 2% target in the coming year. Canada's currency gained against the greenback , with one U.S. dollar purchasing C$1.0110 vs. C$1.0120 Tuesday.