17:48:51 EDT Thu 28 Mar 2024
Enter Symbol
or Name
USA
CA



Bank of Nova Scotia
Symbol BNS
Shares Issued 1,201,922,504
Close 2017-07-14 C$ 78.42
Market Cap C$ 94,254,762,764
Recent Sedar Documents

Globe says CIBC, rivals hear rates to move up slowly

2017-07-17 07:27 ET - In the News

See In the News (C-CM) Canadian Imperial Bank of Commerce

The Globe and Mail reports in its Saturday, July 15, edition that thanks in large part to seven years of rock-bottom interest rates, many investments around the world are shockingly expensive. The Globe's Ian McGugan writes that from Canadian homes to U.S. stocks to European bonds, asset prices teeter at historic highs. Mr. McGugan says most of the world's major central bankers -- including the Bank of Canada -- have delivered unusually uniform messages in recent weeks, pointing to higher rates ahead. Everything else being equal, a global move to higher rates is likely to start pressing down on asset prices over the coming year, in much the same way as lower rates after the financial crisis provided a powerful push upward. It is easy to sketch a nightmare scenario in which central bankers jerk on the rate lever too fast, toppling housing markets and stock prices into the ditch and bringing about a new crisis. More likely, though, is for rates to inch higher in a slow, cautious crawl. Our monetary overlords will want to avoid setting off a new emergency even as they attempt to bring rates back to more normal levels nearly a decade after first slashing them.

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