Canada's main stock index fell on Wednesday ahead of a widely expected rate hike by the Bank of Canada after hotter-than-expected U.S. inflation data slammed global markets and sparked fears of aggressive monetary policy tightening by the Federal Reserve.

At 9:30 a.m. ET (13:30 GMT), the Toronto Stock Exchange's S&P/TSX composite index was down 161.18 points, or 0.86%, at 18,517.46. (Reporting by Bansari Mayur Kamdar in Bengaluru; Editing by Shounak Dasgupta)