05:36:58 EDT Fri 29 Mar 2024
Enter Symbol
or Name
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CA



Bank of Nova Scotia
Symbol BNS
Shares Issued 1,198,446,144
Close 2018-04-19 C$ 76.39
Market Cap C$ 91,549,300,940
Recent Sedar Documents

Globe says TD, rivals hear rates to climb, but not now

2018-04-19 08:21 ET - In the News

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

The Globe and Mail reports in its Thursday, April 19, edition that the Bank of Canada is continuing to build a case for higher interest rates -- just not yet. The Globe's Barrie McKenna writes that the BOC kept its key rate unchanged at 1.25 per cent on Wednesday, citing an economic slowdown early this year plus weakness in housing, trade and investment. Even though many of the essential ingredients for higher rates are falling into place, the bank said it remains "cautious" about future rate hikes. The bank has raised its key rate three times since last June and many economists expect at least one or two more hikes this year, with the first possibly in July. On the one hand, the economy is near full capacity, unemployment is at its lowest level since the 1970s and inflation has climbed back to the BOC's 2-per-cent target. However, a host of other factors are still weighing on the economy, including uncertainty over the North American free-trade agreement, loss of market share by exporters in the vital U.S. market and the record debt levels of Canadians. Mr. Poloz said: "The economy is in a good place. However, all is not quite normal. Interest rates are still very low."

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