12:15 PM EDT, 10/27/2025 (MT Newswires) -- The Toronto Stock Exchange is down 164 points at midday with mining stocks, down 1.7%, the worst performer. Telecoms and Utilities are also in the red, down 0.8% and 0.6%, respectively.

Info tech is the biggest gainer, up 1.3%.

BMO Economics said the TSX added 0.8% last week, as gains in health care and technology outweighed a pullback in gold/materials.

All eyes are on central banks this week, with both the Federal Reserve and Bank of Canada making policy announcements on Wednesday.

The BoC is expected to cut rates by another 25 bps at this week's meeting, to 2.25%, and BMO sees the policy rate ending the year at 2%. The soft economy and job market will likely weigh heavier for policymakers, than some stubbornness in inflation and a potential fiscal boost. BMO is looking for the refreshed Monetary Policy Report to go back to a base-case economic outlook.

Meanwhile, the Canadian economy is expected to see slow growth in the last two quarters of 2025, finds the Canadian Federation of Independent Business's (CFIB) latest Main Street Quarterly report. Among key highlights: CFIB's estimates and forecasts suggest the Canadian economy will continue growing at a slow pace of 0.2% in the fourth quarter. Consumer Price Index inflation is expected to remain stable for the rest of the year. Private investment estimates point to a 3.7% decline in the third quarter and a further contraction of 4.5% in the fourth quarter. Retail sales declined in the third quarter by 0.2% and are forecast to grow by 1.8% in the fourth quarter, far below the historical average.

Elsewhere, Rosenberg Research notes that President Trump tacking on an extra 10% tariff on Canadian exports because of Ontario Premier Doug Ford's 60-second television advertisement has been met with "nothing more than a shrug of the shoulders." This, the research said, as PM Mark Carney "lowers his elbows even more" and rapidly distances himself from Ontario's public relations move and also from British Columbia too, which has launched a campaign against rising U.S. forestry duties. This, the research added, is a "complete shift" from Carney's bravado during the Canadian election campaign.

Prime Minister Mark Carney says trade talks with the U.S. "had been making progress" on affected sectors like steel and aluminum until President Donald Trump suddenly ended negotiations with Canada over Ontario's anti-tariff ad, CTV News reported Monday. Carney also said he has not spoken to Trump since talks ended on Thursday, CTV News noted.

The Canadian Press reported Carney plans to meet with Chinese President Xi Jinping while the pair are at the Asia Pacific Economic Cooperation forum later this week in South Korea. The planned meeting follows Foreign Affairs Minister Anita Anand's visit to Beijing where she met with her counterpart, Wang Yi. The meeting will mark a significant thaw in relations and the first time the leaders of the two countries have met formally since Justin Trudeau met with Xi during an official visit to China in 2017, before years of deteriorating relations between the two countries.