CORRECTED - CANADA STOCKS - Factors to watch on Oct 8

Wed Oct 8, 2008 9:24am EDT
 
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(Corrects first paragraph to show Bank of Canada cut key rate to 2.50 percent, not 2.0 percent)

TORONTO Oct 8 (Reuters) - Canada's S&P/TSX composite index .GSPTSE may get a boost on Wednesday after the Bank of Canada unexpectedly cut its key interest rate by 50 basis points to 2.50 percent in a coordinated effort by central banks around the world to soothe faltering financial markets.

Here is some of the news that could affect the market:

BANK OF CANADA RATE CUT

The Bank of Canada unexpectedly cut its key interest rate by 50 basis points to 2.50 percent on Wednesday in a coordinated effort with other central banks in a bid to calm ailing financial markets. [ID:nN08492471] For links to more stories, see: [ID:nCRISIS] [ID:nN08304738]

CANADA HOUSING

The Canada Mortgage and Housing Corp says housing starts in the country edged higher in September to a seasonally adjusted annualized rate of 217,600 units from a revised 217,400 units in August. [ID:nHND005501]

CANADA ELECTION

Prime Minister Stephen Harper unveiled a C$8.67 billion election platform on Wednesday and presented himself as the steady hand to steer Canada through tricky economic waters, a day when a poll indicated Conservative support was slipping with only a week until election day. [ID:nN07481218]   Continued...