The Toronto stock market was lower Wednesday as traders hoped that the U.S. Federal Reserve will shed some light on what it intends to do about curbing some of its economic stimulus.

TORONTO - The Bank of Canada is likely to start raising its benchmark interest rate in July 2014, a full year before the U.S. Federal Reserve, BMO's chief economist Douglas Porter said Wednesday.

Market watchers and the financial community will keep a close eye on Stephen Poloz at a speech in Burlington, Ont., on Wednesday, the central bank governor's first public speech since ascending to the top job at the Bank of Canada earlier this month.

TORONTO -- An anticipated financial recovery south of the border is likely to help economic growth in Canada, economists said Wednesday, although the U.S.

Grocery giant Loblaw Cos. Ltd. is testing a new discount store in Calgary as it braces for intensified competition from low-cost U.S.