July 14 (Reuters) - Canada’s main stock index rose on Wednesday after the country’s central bank held its key interest rate steady and trimmed its bond-buying program, even as it predicted near-term inflation would be higher than previously forecast. * At 10:14 a.m. ET (14:14 GMT), the Toronto Stock Exchange’s S&P/TSX composite index was up 30.77 points, or 0.15%, at 20,301.42. * The Bank of Canada on Wednesday said the risks of the COVID-19 pandemic to Canada’s economy were “significantly diminished,” and that growth should pick up in the third quarter of 2021. It tapered weekly net asset purchases to C$2 billion as expected. * The financials sector gained 0.2%, while the industrials sector rose 0.1%. * The energy sector climbed 0.4% despite declining oil prices as some stocks cheered target price hikes from brokerage CIBC. * The materials sector, which includes precious and base metals miners and fertilizer companies, added 0.4% as gold futures rose 1.0% to $1,827 an ounce. * On the TSX, 115 issues were higher, while 110 issues declined for a 1.05-to-1 ratio favouring gainers, with 27.71 million shares traded. * Oceanagold Corp jumped 8.8%, the most on the TSX, after the Philippine government renewed a contract with the company for another 25 years. Transportation services firm TFI International Inc rose 6.6% following a target price hike from CIBC. * Cannabis products maker Organigram Holdings was the top loser, falling 2.5%, a day after jumping 12% on upbeat earnings. The second-biggest decliner was Lithium Americas , down 2.3%. * The most heavily traded shares by volume were Bombardier , Toronto Dominion Bank and Oceanagold. * The TSX posted no new 52-week highs and no new lows. * Across all Canadian issues, there were 47 new 52-week highs and seven new lows, with a total volume of 55.82 million shares. (Reporting by Susan Mathew in Bengaluru; Editing by Ramakrishnan M.) Our Standards: The Thomson Reuters Trust Principles.