TSX Futures Steady Ahead of Bank of Canada Decision as Oil and Yields Rise

Toronto, 2 September 2026 – Canadian equity futures were little changed ahead of the Bank of Canada’s scheduled policy decision, as investors balanced stronger oil prices against elevated government bond yields and uncertainty over the domestic growth outlook. September futures on the S&P/TSX Composite were down about 0.13%, signalling caution rather than a decisive shift before the central bank’s announcement.

The Bank of Canada’s overnight-rate target stood at 2.25% before the decision, following an unchanged outcome in July. Markets were waiting for confirmation of whether policymakers would preserve that setting and, more importantly, how they would describe the interaction between inflation, employment and external risks. The distinction matters because forward guidance can influence borrowing costs and asset prices even when the headline rate does not move.