标准普尔/多伦多证交所综合指数周三收高0.2%，收于24107点，受美联储主席杰罗姆·鲍威尔抑制对即将降息的预期导致美国市场下跌的压力。鲍威尔警告称，关税行动可能会破坏美联储控制通胀和支持经济增长的努力。尽管他预计这些措施将导致通胀上升和经济增长放缓，但他强调在获得更明确的数据之前采取观望态度。权重金融、科技和铁路板块领跌，Shopify（-0.7%）、布鲁克菲尔德（-1.6%）、加拿大太平洋铁路（1.7%）、蒙特利尔银行（-0.6%）和宏利（-2.1%）的股价明显下跌。相比之下，大宗商品生产商，尤其是主要的矿业和能源类股强劲上涨。与此同时，加拿大央行将基准利率维持在2.75%，因为管理委员会警告称，美国潜在关税的不确定性可能会抑制增长并提高通胀预期。

The S&P/TSX Composite Index pared its early gains to close 0.2% higher at 24,107 on Wednesday, pressured by declines in US markets as Fed Chair Jerome Powell dampened expectations for imminent rate cuts. Powell warned that tariff actions could undermine the Fed's efforts to control inflation and support growth. Although he expects these measures to lead to higher inflation and slower growth, he emphasized a wait-and-see approach until more definitive data becomes available. Heavyweight financials, technology, and rail sectors led the decline, with notable losses in shares of Shopify (-0.7%), Brookfield (-1.6%), Canadian Pacific Railway (1.7%), BMO (-0.6%), and Manulife (-2.1%). In contrast, commodity producers, especially major mining and energy stocks posted strong gains. Meanwhile, the Bank of Canada held its benchmark rate at 2.75%, as the governing council warned that uncertainty over potential U.S. tariffs could dampen growth and elevate inflation expectations.

加拿大央行高层官员在央行保持政策利率稳定后发表讲话。以下是加拿大央行行长蒂夫·麦克勒姆和高级副行长卡罗琳·罗杰斯周三在新闻发布会上的一些关键言论，此前央行将关键政策利率稳定在2.75%。

Top Bank of Canada officials speak after central bank holds policy rate steady.Below are some key quotes from a news conference by Bank of Canada Governor Tiff Macklem and Senior Deputy Governor Carolyn Rogers on Wednesday after the central bank held its key policy rate steady at 2.75%.

加拿大10年期政府债券收益率升至3.15%以上，从4月11日11周高点3.27%的近期大幅下跌中恢复过来，因为投资者在美国贸易政策不确定性日益增加的情况下处理了加拿大银行的最新货币政策决定。中国银行将基准利率维持在2.75%，这是在连续七次降息总计2.25个百分点后首次暂停，理由是美国关税前景模糊，呈现出两种潜在情景：一种是有限的关税支持稳定增长，使通货膨胀率保持在2%附近，另一种是激进的关税引发衰退和更高的通货膨胀。与此同时，美国贸易紧张局势的升级——因关键矿产的新关税威胁而加剧——加剧了人们对经济衰退的担忧，并恢复了美国国债的市场外流。

Canada’s 10-year government bond yield rose above 3.15%, recovering from a recent sharp decline from an eleven-week high of 3.27% on April 11th, as investors processed the Bank of Canada's latest monetary policy decision amid growing U.S. trade policy uncertainty. The BoC held its benchmark rate at 2.75%—its first pause after a series of seven cuts totaling 2.25 percentage points—citing an ambiguous U.S. tariff outlook that presents two potential scenarios: one in which limited tariffs support steady growth and keep inflation near 2%, and another where aggressive tariffs trigger a recession and higher inflation. Meanwhile, escalating U.S. trade tensions—exacerbated by new tariff threats on critical minerals—have intensified recession fears and resumed market outflows from U.S. Treasuries.

尽管关税对经济构成威胁，加拿大银行仍维持利率不变。该行的展望承认，“随着关税公告和不确定性拉低消费者和商业信心，经济正在放缓。消费、住宅投资和商业支出在第一季度似乎都有所减弱。

Bank of Canada Holds Rates Even as Tariffs Threaten the Economy.The bank's outlook recognized that the “economy is slowing as tariff announcements and uncertainty pull down consumer and business confidence. Consumption, residential investment and business spending all look to have weakened in the first quarter.