October 30, 2019 / 11:44 AM / 12 days ago

TSX futures slip ahead of Fed, BoC rate decisions

FILE PHOTO: A sign board displaying Toronto Stock Exchange (TSX) stock information is seen in Toronto June 23, 2014. REUTERS/Mark Blinch

(Reuters) - Canada’s main stock index futures inched lower on Wednesday, ahead of policy decisions from the U.S. Federal Reserve and the Bank of Canada.

December futures on the S&P/TSX index were down 0.12% at 7:00 a.m. ET.

The Bank of Canada is expected to keep interest rates steady in its first policy announcement since the federal election. The decision is due out at 10:00 a.m. ET.

The U.S. Federal Reserve, meanwhile, is likely to announce a quarter-percentage-point cut to its overnight benchmark lending rate when it releases its latest policy statement at 02:00 p.m. ET.

The Toronto Stock Exchange’s S&P/TSX composite index closed 0.19% higher at 16,418.14 on Tuesday.

Dow Jones Industrial Average e-mini futures were flat at 7:00 a.m. ET, while S&P 500 e-mini futures were 0.02% higher and Nasdaq 100 e-mini futures were up 0.07%.

Reporting by Nayyar Rasheed in Bengaluru; Editing by Subhranshu Sahu

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