Canadian Market Headed For Another Weak Close

(RTTNews) - The Canadian market looks headed for another weak close, with stocks falling deeper into the red Wednesday afternoon after the Federal Reserve signaled fewer interest rate cuts next year than previously expected. The Fed lowered interest rate by 25 basis points today as widely expected. The central bank described the economic outlook as "uncertain" and said the risks to both sides of its dual mandate are "roughly in balance." The central bank's latest projections suggest rates will be in a rage of 3.75 to 4% by the end of 2025 compared to the range of 3.25 to 3.5% forecast in September. The Canadian benchmark S&P/TSX Composite Index was down 197 points or 0.79% at 24,922.71 a little while ago.