The S&P/TSX Composite Index rose 0.8% to close at a record high of 31,491 on Wednesday as investors absorbed the Bank of Canada decision and the Federal Reserve’s move and guidance. The BoC held its policy rate at 2.25% and reiterated that the current stance is about right given a mix of stronger third quarter growth and trade related volatility, a tone that reinforced a hawkish pause and kept immediate easing odds low. Meanwhile the Fed’s 25 basis point cut was widely anticipated, and markets instead focused on the committee’s guidance and Chair Powell’s remarks, which were read as prompting traders to increase bets and price in roughly a 68% chance that the Fed will cut rates two or more times next year. Tech led the rise with Shopify surging 4.8%, while major miners Barrick Mining, Wheaton Precious Metals and Franco Nevada outperformed, adding 1.9%, 2.9% and 2.1% respectively amid higher gold prices. Financials also contributed with TD Bank and BMO rising about 2% each.