Jan 24 (Reuters) - Canada's main stock index fell on Tuesday, as energy and consumer discretionary stocks dragged the index lower ahead of the Bank of Canada's interest rate decision on Wednesday, while data showed U.S. business activity contracted.
ET (1522 GMT), the Toronto Stock Exchange's S&P/TSX composite index (.GSPTSE) was down 68.95 points, or 0.33%, at 20,562.63.
Commodity-linked stocks took a dive, with both energy (.SPTTEN) and materials (.GSPTTMT) down 0.7% and 0.6%, respectively, as commodity prices slipped.
Looking ahead, another interest rate hike by the Bank of Canada (BoC) is looming large, with traders leaning towards a 25-basis-point hike on Wednesday.
The BoC had hiked its overnight lending rate all through 2022, with the current rate sitting at an over 16-year high.