05:20:18 EDT Fri 10 May 2024
Enter Symbol
or Name
USA
CA



Bank of Nova Scotia
Symbol BNS
Shares Issued 1,198,208,698
Close 2017-09-07 C$ 76.00
Market Cap C$ 91,063,861,048
Recent Sedar Documents

Globe/wire say TD, rivals hear rates seen standing pat

2017-09-08 07:14 ET - In the News

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

The Globe and Mail reports in its Friday edition that a Reuters poll of primary dealers shows they believe the Bank of Canada is done raising interest rates this year. A Reuters dispatch to The Globe reports that the BOC, however, is expected to chart a more aggressive tightening path for 2018. The median forecast among 10 of Canada's 11 primary dealers that deal directly with the BOC at debt auctions is for the BOC to wait until the first quarter of next year to hike again. That will give it time to see how its two back-to-back rate hikes are absorbed by the economy as well as indebted consumers. There is a risk the bank could increase rates for a third time in 2017 if economic data continues to be strong, forecasters say. Four primary dealers expect the BOC to raise again in the fourth quarter. BMO expects the next move to be in the first quarter of 2018. Respondents put the median probability of the bank hiking at its next meeting in October at 30 per cent, matching market odds of 35 per cent. The BOC's overnight rate is now seen rising to 1.75 per cent by the end of 2018, 25 basis points higher than economists had expected by that time in a wider Reuters poll done last week.

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