09:04:23 EDT Fri 26 Apr 2024
Enter Symbol
or Name
USA
CA



Bank of Nova Scotia
Symbol BNS
Shares Issued 1,201,922,504
Close 2017-07-10 C$ 78.49
Market Cap C$ 94,338,897,339
Recent Sedar Documents

Globe says TD, rivals hear BOC rate hike very likely

2017-07-10 07:05 ET - In the News

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

The Globe and Mail reports in its Saturday, July 8, edition that Canadian employers added 45,300 new jobs in June, another robust month of job creation that cemented expectations for an interest-rate hike on Wednesday. The Globe's Rachelle Younglai writes that although the bulk of the new jobs were part-time positions and wage growth remained weak, the pace of employment creation has exceeded expectations for months. Since June of last year, the economy has created 351,000 new positions, the highest year-over-year job growth since oil prices were skyrocketing in 2013. The monthly employment report is the latest piece of evidence that shows the strength of Canada's economic recovery after the energy downturn. A strong gross domestic product reading for April and an optimistic business survey had already fuelled market and economist expectations that the Bank of Canada would raise interest rates at its monetary policy meeting on Wednesday. After Statistics Canada released the labour-force survey on Friday morning, the odds of a rate hike occurring in July jumped to 95 per cent from about 70 per cent the previous week. Royal Bank of Canada says, "The labour market is giving a green light for the Bank of Canada to raise rates next Wednesday."

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