10:56:11 EDT Thu 28 Mar 2024
Enter Symbol
or Name
USA
CA



Bank of Nova Scotia
Symbol BNS
Shares Issued 1,198,592,774
Close 2017-11-07 C$ 83.74
Market Cap C$ 100,370,158,895
Recent Sedar Documents

Globe says TD, rivals hear low inflation not a mystery

2017-11-08 07:30 ET - In the News

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

The Globe and Mail reports in its Wednesday edition that inflation has not mysteriously vanished, it is just slow to materialize as the global economy grapples with the aftershocks of the Great Recession, Bank of Canada Governor Stephen Poloz says. The Globe's Barrie McKenna writes that Mr. Poloz told a meeting of financial analysts in Montreal on Tuesday, "The popular perception that inflation has become inexplicable has been greatly exaggerated." People expect too much of central banks in being able to accurately predict and control inflation down to "tenths of a percentage point," he added. "Inflation targeting is an imprecise business," he said. Mr. Poloz nonetheless insisted that the bank's policy of targeting 2-percent inflation is working just fine. "The laws of supply and demand have not been repealed," he said. Prices have remained below the bank's target for most of Mr. Poloz's tenure at the BOC. Now, with unemployment back to prerecession levels and the economy operating at full capacity, inflation remains subdued, running at a 1.6-per-cent annual rate in September. Indeed, inflation is the missing piece in the BOC's desire to raise its key interest rate to more normal levels.

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