Futures lower ahead of Bank of Canada's rate decision

Wed Apr 12, 2017 7:41am EDT
 
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(Reuters) - Canada's main stock index was set for a slightly lower start on Wednesday as investors awaited the Bank of Canada's interest rate decision.

The central bank is widely expected to hold rates at 0.50 percent, where they have stayed since the bank cut twice in 2015.

June futures on the S&P TSX index SXFc1 were down 0.12 percent at 7:15 a.m. ET.

The interest rate decision, which is due at 10:00 a.m. ET, will be followed by Governor Stephen Poloz's press conference.

Later in the day, Poloz and Senior Deputy Governor Carolyn Wilkins will testify before a House of Commons committee on finance.

The Toronto Stock Exchange's S&P/TSX composite index ended barely lower on Tuesday as financial stocks weighed, while a flight to safety helped gold miners and shares of Bombardier Inc (BBDb.TO: Quote) jumped on reports it was discussing a merger of rail operations with Siemens.

Dow Jones Industrial Average e-mini futures 1YMc1 were down 0.02 percent at 7:15 a.m. ET, while S&P 500 e-mini futures ESc1 were down 0.07 percent and Nasdaq 100 e-mini futures NQc1 were down 0.05 percent. [.N]

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A man walks past an old Toronto Stock Exchange (TSX) sign in Toronto, June 23, 2014. REUTERS/Mark Blinch