India, Jan. 29 -- The Canadian market closed higher on Wednesday, lifted by gains in energy, materials and consumer staples sectors. The mood remained largely cautious with investors digesting the Bank of Canada and the Federal Reserve's interest rate decisions.
Despite the Canadian central bank's decision to lower interest rates by 25 basis points, the mood remained cautious on concerns about the Trump administration's tariff threats, and uncertainty surrounding its trade and economic policies.
The Bank of Canada lowered interest rates by a quarter point, as widely expected. With this the overnight rate has dropped to 3%, the bank rate to 3.25% and the deposit rate to 2.95%.
The central bank had cut rates by 50 basis points at each of i...