Canadian stocks and currencies are falling as rate rise bets heat up

On Monday, Canada’s major stock market fell back into correction territory, and the currency fell against the US dollar as investors increased their wagers on how high central banks will hike interest rates to combat inflation

The S&P/TSX composite index (.GSPTSE) of the Toronto Stock Exchange fell 2.6 percent to 19,742.56, leaving it 10.6 percent behind its record closing high set in March.

The Toronto Stock Exchange’s S&P/TSX composite index ended down 2.6% at 19,742.56.
A correction is when an index closes 10% below its record closing high. The TSX did that on May 11 and May 12 but then rallied.
Money markets see about a 75% chance that the Bank of Canada would raise interest rates by three-quarters of a percentage point next month.

This report’s information was first seen on Reuters; to read more, click this link.