06:47:16 EDT Fri 29 Mar 2024
Enter Symbol
or Name
USA
CA



Bank of Nova Scotia
Symbol BNS
Shares Issued 1,205,377,799
Close 2016-10-18 C$ 70.78
Market Cap C$ 85,316,640,613
Recent Sedar Documents

Globe/wire say TD, rivals hear BOC likely standing pat

2016-10-19 07:15 ET - In the News

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

The Globe and Mail reports in its Wednesday edition that the Bank of Canada will likely pare back its economic outlook at an interest rate decision Wednesday and say lingering damage from an oil slump is weighing on exports. A Bloomberg dispatch to The Globe reports that Governor Stephen Poloz may cut his current forecast of 2.2-per-cent growth for 2017, now above the consensus of 1.9 per cent, and some analysts say he will push back his prediction for the economy to reach full output next year. The bank's key interest rate will remain at 0.5 per cent, says a survey of 25 economists. The BOC shifted gears on its economic outlook last month, saying inflation risks had tilted to the downside since July and exports have lost ground. The change may herald further rate cuts if necessary. TD Securities analyst Brittany Baumann says, "While a rate cut this month is unlikely in our view, should incoming data beyond October confirm further deterioration in growth conditions, particularly in non-energy exports and U.S. growth, the risk of additional policy easing will grow considerably." BMO economist Benjamin Reitzes says, "There's no doubt they will stay cautious" in Wednesday's decision.

© 2024 Canjex Publishing Ltd. All rights reserved.