6 TSX stocks to buy as BoC raises interest rates to 3.25%

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Highlights

  • On Thursday, September 7, the Bank of Canada announced increasing interest rate by 75 basis points to 3.25 per cent
  • Sun Life Financial will distribute C$ 0.69 as a quarterly dividend on September 29
  • Tourmaline stock swelled by approximately 135 per cent in a year

Canadian investors worried about increasing interest rates can consider exploring dividend stocks like Sun Life (TSX: SLF), BCE (TSX: BCE), Canadian National (TSX: CNR) etc., which regularly doles out dividends.

On Thursday, September 7, the Bank of Canada (BoC) announced increasing the interest rate by 75 basis points to 3.25 per cent as Canada’s labour markets remain ‘tight’. The central bank said it would take necessary actions to maintain price stability and push back inflation to a two per cent target. Hence, considering dividend-paying stocks supported by solid businesses could help investors boost their portfolio income and healthy returns.

So, Kalkine Media® has selected the following dividend-paying large-cap stocks that one can explore amid the ongoing economic environment.



 


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