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TSX Rises After Dovish BoC Comment -- Canadian Commentary

Canadian stocks continued to inch higher Tuesday amid dovish remarks from Bank of Canada boss Steven Poloz.

"The bank has concluded there remains a degree of untapped supply potential in the economy," Poloz said in Kingston, Ontario. "This is important, for it means that Canada may be able to have more economic growth, a larger economy, and therefore more income per person, without generating higher inflation."

Taken to mean that interest rates will stay low, the TSX Composite Index added 42.35 points to 15,647.14.

In economic news from th U.S., the annualized rate of core inflation was up only 1.8%, once again short of the Federal Reserve's 2% target.

On Wednesday, the Labor Department is scheduled to release a separate report on producer prices in the month of February.

On the corporate front, Loblaw Companies (L.TO) and Imperial Oil (IMO.TO) have signed a deal that will allow PC Optimum members to earn points at Esso gas stations.

Aphria Inc. (APH.TO) announced that the Company received a license amendment from Health Canada that provides Aphria with additional production space of 200,000 square feet.

by RTTNews Staff Writer

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