(fxcue news) - Canadian stocks are up in positive territory Wednesday morning, led by gains in energy, communications and materials sectors. Stocks from real estate and utilities sections are also doing well. Renewed worries about trade tensions weigh on sentiment, but higher commodity prices prompt investors to pick up resources stocks. Investors are also digesting the Bank of Canada's interest rate decision. The Bank of Canada left its benchmark rates unchanged, as widely expected, after a series of interest rate cuts over the past several months. The benchmark S&P/TSX Composite Index is up 143.61 points or 0.6% at 24,211.54 about half an hour before noon. The index climbed to a high of 24,224.04, after opening at 24,054.61. The Energy Capped Index is up 2.2%. MEG Energy Corp, Baytex Energy and Vermilion Energy are gaining 5%, 4.9% and 4.3%, respectively. Headwater Exploration, Veren, Athabasca Oil Corp, Whitecap Resources, Kelt Exploration and Advantage Oil & Gas are up 3 to 4%. Among materials stocks, Torex Gold Resources is rising nearly 8% and Iamgold Corp is up 6.9%. Novagold, Lundin Gold, Oceanagold, Equinox Gold Corp, Eldorado Gold, Dundee Precious Metals, Wesdome Gold Minies and K92 Mining are up 2.3 to 5%. The BoC decided to hold its target for the overnight rate at 2.75%, the Bank Rate at 3% and the deposit rate at 2.7%. The accompanying statement noted increased uncertainty due to the major shift in direction of U.S. trade policy and the unpredictability of tariffs makes it unusually challenging to project GDP growth and inflation in Canada and globally. The Bank of Canada said its April Monetary Policy Report subsequently presents two scenarios that explore different paths for U.S. trade policy. "In the first scenario, uncertainty is high but tariffs are limited in scope. Canadian growth weakens temporarily and inflation remains around the 2% target," the Bank of Canada said. "In the second scenario, a protracted trade war causes Canada's economy to fall into recession this year and inflation rises temporarily above 3% next year," the Canadian central bank added, noting, "Many other trade policy scenarios are possible." The central bank, which said its Governing Council will proceed carefully, with particular attention to the risks and uncertainties facing the Canadian economy, concluded its statement by noting, "Monetary policy cannot resolve trade uncertainty or offset the impacts of a trade war. What it can and must do is maintain price stability for Canadians."