March 12 (Reuters) - Futures tied to Canada's main stock

index rose on Wednesday in the run-up to the Bank of Canada's

interest rate decision later in the day, which is expected to

result in a quarter-point cut.

March futures on the S&P/TSX index were up 0.24% at

6:43 a.m. ET (1044 GMT).

The BoC is widely expected to lower its benchmark rate to

2.75% to mitigate against U.S. tariffs, with traders expecting

at least two more cuts by the end of 2025 to support the economy

amid a looming trade war with the United States.

U.S. President Donald Trump on Tuesday backed off from plans

to double the trade duties on Canadian steel and aluminum

products, following Ontario province's decision to suspend a 25%

surcharge on electricity exports to the U.S. states of

Minnesota, Michigan and New York.

The chaos around the implementation of Trump's tariffs has

increased the risks of recession for the U.S., Mexico and

Canada.

The Toronto Stock Exchange's S&P/TSX composite index

ended 0.5% lower as investors prepared for a slowdown

in economic growth due to tariff uncertainties.

In commodities, oil prices edged up on Wednesday as a weaker

U.S. dollar extended support. However, gains were capped by

mounting fears of a U.S. economic slowdown and the impact of

tariffs on global economic growth.

Gold prices were mostly flat, with market attention on

Trump's tariff policies and a key U.S. inflation report due

later in the day.

The U.S. Consumer Price Index figure for February, set to be

released at 8:30 a.m. ET, is expected to show inflation cooling

from the previous month.

In corporate news, Step Energy Services ( SNVVF ) missed

fourth-quarter revenue expectations on Tuesday.

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($1 = 1.4435 Canadian dollars)