05:26:56 EDT Fri 29 Mar 2024
Enter Symbol
or Name
USA
CA



Bank of Nova Scotia
Symbol BNS
Shares Issued 1,216,862,443
Close 2014-07-16 C$ 73.22
Market Cap C$ 89,098,668,076
Recent Sedar Documents

Globe says Big Six banks hear BOC rate hike unlikely

2014-07-17 07:05 ET - In the News

See In the News (C-CM) Canadian Imperial Bank of Commerce

The Globe and Mail reports in its Thursday, July 17, edition that Bank of Canada governor Stephen Poloz could hold interest rates pat for another two years. The Globe's David Parkinson writes that Mr. Poloz cautioned Wednesday that despite Canada's recent surprise surge in consumer prices, the stubborn lack of traction in global growth is delaying Canada's recovery. He says inflation will be constrained. The BOC issued new economic forecasts that raised inflation projections for this year, but cut economic growth forecasts and projected the economy will not return to full capacity until mid-2016, months later than anticipated. Mr. Poloz concedes the recent surprise jump in Canada's inflation rate, to above the BOC's 2-per-cent policy target, has moved the economy away from the risks of very low inflation that it had feared a few months ago. Nevertheless, Mr. Poloz hammered home the point that stubbornly slower-than-expected economic growth, both at home and in export markets, has created a longer-lasting risk of lower-than-target inflation. "The serial disappointment with global economic performance for the past several years means that we remain preoccupied with downside risks to economic activity."

© 2024 Canjex Publishing Ltd. All rights reserved.