标准普尔/多伦多证交所综合指数周三收于24574点，跌幅0.6%，受科技和大宗商品生产商拖累，投资者对加拿大银行降息做出反应。继三次小幅降息后，中国银行在本周期首次大幅降息50个基点。电子商务和软件开发商巨头Shopify和Constellation software领跌，分别下跌2.3%和1.5%，与美国同行持平。与此同时，与石油挂钩的股票继续下跌，森科尔、帝国石油、加拿大天然气和Cenovus在能源价格下跌的情况下下跌了0.9%至1.7%。矿业公司巴里克黄金、惠顿贵金属和泰克资源也表现不佳，在金属价格普遍下跌的情况下下跌1.4%至1.7%，铀生产商Cameco暴跌4.5%。从积极的一面来看，加拿大国家铁路公司在公布强于预期的季度收益后小幅上涨。

The S&P/TSX Composite Index 0.6% to close at 24,574 on Wednesday, weighed down by tech and commodity producers, as investors reacted to the Bank of Canada's interest rate cut. The BoC implemented its first significant 50bps reduction in this cycle after three smaller cuts. E-commerce and software developer heavyweights Shopify and Constellation Software led the decline with losses of 2.3% and 1.5%, respectively tracking US peers. Meanwhile, oil-linked stocks extended their losses, with Suncor, Imperial Oil, Canadian Natural, and Cenovus declining between 0.9% and 1.7% amid falling energy prices. Miners Barrick Gold, Wheaton Precious, and Teck Resources also underperformed, losing between 1.4% and 1.7% amid a broad metal prices decline, with uranium producer Cameco plunging 4.5%. On the positive side, Canadian National Railway posted small gains after reporting stronger-than-expected quarterly earnings.

中国银行将迅速恢复更中立的政策立场——NBC。这一决定可能存在一些总体不确定性，但市场和经济学家显然倾向于这一结果。我们认为这是正确的举措，因为很难证明继续采用渐进式方法是合理的（即。

BoC to quickly return to a more neutral policy stance – NBC.There may have been some headline uncertainty going into this decision, but markets and economists were clearly leaning towards this outcome. It's the right move in our view as it would have been difficult to justify continuing with the gradual approach (i.e.

中国银行加快降息步伐。中国银行今天宣布将隔夜利率下调50个基点，因为越来越多的证据表明，经济和劳动力市场的疲软程度超过了实现2%通胀目标所需的程度。

BoC Accelerates Pace of Rate Cuts.The BoC made the leap to cut the overnight rate by 50 bps today, amid accumulating evidence that the economy and labour markets are weakening by more than what is necessary to achieve the 2% inflation target.

10月，加拿大10年期政府债券收益率升至3.28%以上，为7月以来的最高水平，此前美国国债收益率因投资者评估了加拿大银行的最新政策举措而上涨。中国银行将关键利率下调50个基点至3.75%，在连续三次下调25个基点后加快了宽松步伐。这一决定符合市场预期，是对通胀降温的回应，9月份整体通胀率降至1.6%，三年来首次低于中国银行2%的目标。此外，央行指出，人均消费放缓和劳动力市场疲软，失业率两年多来首次攀升至6.5%以上。中国央行表示，如果经济继续如预期般疲软，可能会进一步降息。在其最新的货币政策报告中，它预测通货膨胀将徘徊在目标水平附近，今年的GDP增长预计为1.2%，2025年为2.1%。

The yield on Canada’s 10-year government bond rose above 3.28% in October, its highest since July, following US Treasury yields as investors assessed the latest Bank of Canada policy move. The BoC cut its key interest rate by 50bps to 3.75%, accelerating its easing after three consecutive 25bps reductions. The decision, in line with market expectations, came in response to cooling inflation, with headline inflation falling to 1.6% in September, below the BoC’s 2% target for the first time in three years. Additionally, the central bank cited a slowdown in per capita consumption and a weakening labor market, as unemployment climbed above 6.5% for the first time in over two years. The BoC signaled further rate cuts could follow if the economy continues to soften as expected. In its updated Monetary Policy Report, it forecasted inflation to hover near target levels, with GDP growth projected at 1.2% this year and 2.1% in 2025.