07:33:35 EDT Thu 25 Apr 2024
Enter Symbol
or Name
USA
CA



Bank of Nova Scotia
Symbol BNS
Shares Issued 1,202,563,061
Close 2016-02-08 C$ 55.68
Market Cap C$ 66,958,711,236
Recent Sedar Documents

Globe says TD, rivals hear BOC deputy supports stimulus

2016-02-09 08:02 ET - In the News

See In the News (C-TD) Toronto-Dominion Bank

The Globe and Mail reports in its Tuesday, Feb. 9, edition that the Bank of Canada is giving Ottawa more cover to roll out billions of dollars of fiscal stimulus in the coming federal budget. The Globe's Barrie McKenna writes that Bank of Canada deputy Governor Timothy Lane warned Monday that relying too heavily on low interest rates to spur the economy could lead to unwanted financial instability, including excessive consumer borrowing. He said under certain circumstances, fiscal stimulus may be a more prudent way to get the same economic lift. Mr. Lane said: "Relying primarily on monetary policy to provide stimulus may lead to financial vulnerabilities. In such circumstances, fiscal policy may be called upon to provide stimulus, particularly since it is likely to be more effective at low interest rates." Mr. Lane acknowledged that more government spending can "create its own problems." He said, however, that it has to be weighed against the danger of too much private-sector borrowing. The comments mark the second time in recent weeks that a top central banker has suggested the bank could use some help from government in the face of economic weakness and near-zero interest rates.

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