08:48:45 EDT Fri 26 Apr 2024
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CA



Bank of Nova Scotia
Symbol BNS
Shares Issued 1,208,043,722
Close 2016-11-28 C$ 72.52
Market Cap C$ 87,607,330,719
Recent Sedar Documents

Globe says TD, rivals hear bar set high for rate change

2016-11-29 08:53 ET - In the News

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

The Globe and Mail reports in its Tuesday, Nov. 29, edition that Bank of Canada Governor Stephen Poloz suggested that continued uncertainties surrounding Canada's economic outlook have set the bar high for an interest rate change, as the central bank approaches its deliberations for next week's rate decision. The Globe's David Parkinson writes that Mr. Poloz says the wide range of uncertainties that the bank outlined in its October rate decision "is still present." He says the BOC is looking "for more evidence on several economic fronts that would clarify the big picture." He says the surprise election of Donald Trump did little to clear up uncertainty to the outlook. Mr. Poloz says new data coming between now and next week's BOC rate decision, especially Wednesday's third quarter gross domestic product report, will provide the bank with some key additional indicators of the state of the economy. Mr. Poloz says, "It should help us bring things into focus." Mr. Trump's election victory raises new worries about the future of Canadian exports to the United States, a critical component of the central bank's road map for Canada's economic recovery.

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