Bay Street Likely To Open On Positive Note

(RTTNews) - Canadian shares look headed for a positive start Wednesday morning thanks to positive global cues. The focus will be the Bank of Canada's interest rate decision. The Canadian central bank is expected to cut interest rate by a quarter percentage point. The bank's statement about the outlook for the economy and future policy stance is eyed. The European Central Bank's policy announcement, due on Thursday, and the U.S. jobs data, are also eyed for directional clues. The Bank of Canada's interest rate decision is due at 10 AM ET. A report on labor productivity in Canada is due at 8:30 AM ET. At 9:30 AM ET, a report on Canadian manufacturing and services sector activity is due.