(Bloomberg) -- Canadian stocks erased gains and were
little changed after energy prices slid and economic growth
exceeded central bank estimates, sparking concerns that the Bank of
Canada will raise borrowing costs to rein in inflation.
Canada's economy grew at the fastest pace since the third
quarter of 2005, expanding at an annualized 3.7 percent. The Bank
of Canada hinted on May 29 that it may raise borrowing costs as
early as July. A measure of interest-rate sensitive banks fell 0.4
percent. Toronto-Dominion Bank, Canada's second-largest lender,
dropped 67 cents to C$73.97.
Read more at Bloomberg Stocks News
little changed after energy prices slid and economic growth
exceeded central bank estimates, sparking concerns that the Bank of
Canada will raise borrowing costs to rein in inflation.
Canada's economy grew at the fastest pace since the third
quarter of 2005, expanding at an annualized 3.7 percent. The Bank
of Canada hinted on May 29 that it may raise borrowing costs as
early as July. A measure of interest-rate sensitive banks fell 0.4
percent. Toronto-Dominion Bank, Canada's second-largest lender,
dropped 67 cents to C$73.97.
Read more at Bloomberg Stocks News
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