Canada’s S&P/TSX Composite Index climbed 0.3% to close at a record 27,993 on Wednesday, as softer US inflation data bolstered expectations for a Federal Reserve rate cut in September. July’s mild CPI reading indicated that tariffs have so far had only a limited effect on consumer prices, easing fears of a renewed inflation flare-up and reinforcing the case for policy easing, particularly after some FOMC members suggested tariff risks had delayed the Fed’s loosening cycle. Financials led the advance, with RBC, TD Bank, Brookfield, and BMO gaining between 0.7% and 1.6%, while commodity producers closed mixed.