Canadian Stocks Edge Higher Ahead of BoC and Fed Policy Decisions

Canadian equities rose modestly on Tuesday as investors awaited monetary policy announcements from the Bank of Canada and U.S. Federal Reserve later this week. The S&P/TSX Composite Index gained 0.3% in morning trading, led by financial and energy sectors. The Bank of Canada will announce its rate decision on Wednesday, January 28, while the Federal Reserve concludes its two-day meeting on Thursday, January 29. Markets are pricing in a 95% probability that both central banks will maintain current interest rates. Investors are closely watching for any changes in forward guidance amid recent economic data showing moderating inflation.