CANADA STOCKS-TSX futures inch higher on rising commodity prices, BoC decision eyed

July 11 (Reuters) - Futures for Canada's main stock index edged higher on Tuesday as traders refrained from making big bets ahead of the Bank of Canada's (BoC) verdict on monetary policy on Wednesday, while commodity prices advanced on a softer dollar.

September futures on the S&P/TSX index were up 0.1% at 7:00 a.m. ET (1100 GMT) after the Toronto Stock Exchange's S&P/TSX composite index closed nearly flat on Tuesday. The BoC's policy meeting will be on the radar as the central bank is widely expected to deliver another 25-basis-point hike on Wednesday after data last week hinted at a robust jobs market.

J.P.Morgan now expects the BoC to hike its lending rate by 25 bps to 5% on Wednesday, while Bank of America expected the central bank to hold rates steady.

Crude prices ticked higher as traders weighed supply cuts by the world's biggest oil exporters and hopes for higher demand in the developing world in the second half of 2023 against a sluggish global economic outlook.

Prices of most industrial metals were on the rise on a softer dollar, while gold prices were nearing a three-week high.

The dollar weakened to a two-month low after several U.S. Federal Reserve officials on Monday said the American central bank will likely need to raise interest rates further, but the end to its current monetary policy tightening cycle is getting close.

U.S. index futures edged higher ahead of June U.S. inflation data due Wednesday.

Operators of multiple restaurant concepts MTY Food Group reported higher second-quarter revenue.

Discount store chain Dollarama said its chief financial officer, J.P. Towner, would step down in the coming months to pursue another career opportunity.

COMMODITIES AT 7:00 a.m. ET

Gold futures: $1941.3; +0.5%

US crude: $73.33; +0.47%

Brent crude: $77.99; +0.4% ($1 = 1.3275 Canadian dollars) (Reporting by Shashwat Chauhan in Bengaluru; Editing by Pooja Desai)