02:46:01 EDT Fri 17 May 2024
Enter Symbol
or Name
USA
CA



Bank of Nova Scotia
Symbol BNS
Shares Issued 1,214,075,936
Close 2024-02-02 C$ 63.11
Market Cap C$ 76,620,332,321
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Globe says Scotiabank's Holt sees sticky inflation

2024-02-05 09:13 ET - In the News

The Globe and Mail reports in its Monday edition that after surging to a four-decade high in 2022, the inflation is back within striking distance of the Bank of Canada's target. A triple-bylined item led by Mark Rendell says that the key question now is how long it will take to traverse the final leg down. Some economists think this last mile, bringing consumer price index inflation from 3.5 per cent to the BOC's 2-per-cent goal, will be the hardest. Most of the disinflation over the past 18 months has come from falling oil prices and improvements in global supply chains. What is left of inflation is being driven by domestic forces and concentrated in services, making it harder to tame without an extended period of slow economic growth and rising unemployment. When inflation took off in 2021 and 2022, it was driven largely by oil prices and durable goods prices. Supply chains have largely normalized since then, as capacity has been added and consumer spending has shifted from goods back to services. Some economists think inflation could prove more stubborn than expected. Derek Holt at Bank of Nova Scotia pointed to a potential surge in real estate prices this spring, rapid population growth and government spending.

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