The S&P/TSX Venture Composite Index (INDEXTSI:JX) gained 3.38 points last week to close at 587.71. The Bank of Canada announced on Wednesday (April 10) that it will hold its benchmark lending rate at 5 percent. It has now maintained that level for six consecutive meetings as it works to bring inflation down to its 2 percent target. The bank’s statement indicates that it believes inflation is moving in the right direction and is confident that it will be able to lower rates this year; this echoes language used by the US Federal Reserve at its March meeting. The Bank of Canada had been expected to follow the Fed in cutting rates, with the first predicted to come in June. However, this week’s US consumer price index (CPI) data came in hotter than expected, and has sparked speculation that the American central bank won’t cut until later in 2024. The month-on-month…
