Stocks open higher day after Fed decision to hold rates

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OTTAWA -The Bank of Canada is getting closer to being able to start cutting interest rates from their current 23-year highs, Governor Tiff Macklem said on Wednesday. In testimony to the Senate banking committee, Macklem said inflation was coming down and Canadians wanted to know when the central bank would start cutting interest rates. Canada's annual inflation rate was 2.9% in March, a little higher than the previous month.

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Markets today: Stocks sink as U.S. CPI shuts door on Fed June pivotWall Street traders sent stocks and bonds sliding after another hotter-than-estimated inflation report signaled the U.S. Federal Reserve will be in no rush to cut interest rates this year.
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