17:59:12 EDT Thu 28 Mar 2024
Enter Symbol
or Name
USA
CA



Bank of Nova Scotia
Symbol BNS
Shares Issued 1,203,003,246
Close 2016-07-13 C$ 64.97
Market Cap C$ 78,159,120,893
Recent Sedar Documents

Globe says TD, rivals hear BOC sitting on the sidelines

2016-07-14 07:02 ET - In the News

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

The Globe and Mail reports in its Thursday edition that CIBC economist Nick Exarhos says the Bank of Canada's stronger language regarding housing risks in Vancouver and Toronto signals rates are not climbing any time soon. The Globe's Bill Curry and Alicia Siekierski write that Mr. Exarhos says, "I think it's a relatively firm signal that the bank is going to be on the sidelines for the foreseeable future." BOC senior deputy governor Carolyn Wilkins reiterated the bank's position outlined in last month's financial system review that the housing price growth rates are outpacing fundamentals and are unsustainable. Scotiabank Economics vice-president Derek Holt says the BOC's warning on vulnerabilities in Vancouver and Toronto indicates that there will be a prolonged pause of the interest rate. Mr. Holt says, "The impact of the Bank of Canada's rate cut, and also global bond market developments, has been to add further heat to Canadian housing markets." BOC officials said Wednesday they believe the weak start to 2016 was largely temporary. They stood by the view that exports unrelated to commodities are picking up the slack created by low oil prices and a struggling energy sector.

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