Bank of Nova Scotia
Latest Bank of Nova Scotia News and Updates
Why the rate cut may fuel the housing bubble in Canada
The Bank of Canada cut its key interest rate. Although the rate cut intends to boost the economy, it’s also fueling the housing bubble.
Canadian Dollar Sees Sharp Appreciation, Bank of Canada Keeps Rate Unchanged
The US dollar and Canadian dollar currency pair, which is inversely related to the Canadian dollar, fell about 1.3% below opening levels on March 9.
The widening spread in the Canadian prime and key interest rates
The “Big Six Banks” in Canada have only reduced their prime rates by 15 basis points. So the spread between the prime and key interest rates is now 0.1%.
Canada: 5th-largest oil producer, exposed to concentration risk
Canada is the world’s fifth-largest oil producer. It produces about 6% of global energy supplies and ranks third in the world in proven oil reserves.
Lowe’s $2.3 Billion Rona Acquisition: A Fair Price for Growth?
Lowe’s (LOW), announced that it had entered into a definitive agreement to acquire Canada’s largest home improvement retailer, Rona (RON.TO).
Major Takeaways from the Bank of Canada’s Monetary Policy
The Bank of Canada decided to keep the interest rates unchanged at 0.5% after the monetary policy meeting on July 13.
Will Weak Employment Impact the Bank of Canada’s Stance?
Statistics Canada published the Canadian labor report on the same day as the US non-farm payroll release. The report suggested a fall of 700 jobs in June.
Emera US Finance Issued the Most High Grade Bonds Last Week
Yankee bond issuers dominated the primary high grade bond market in the week ended June 10, making up 30.3%, or $10.2 billion, of all issues.
Canadian Retail Sales Soared and Inflation Ticked Up
For December, consumer inflation rose by 1.6%—compared to growth expectations of 1.7% on an annual basis. It rose by 1.4% in the previous month.
Canadian Dollar Rallies as Interest Rates Remain Flat at 0.5%
The US dollar to Canadian dollar (USD/CAD) moved to 1.326 on the back of speculation that the Bank of Canada could go for another rate cut.
3 key factors affecting Canadian currency depreciation
The availability of easy money leads to currency depreciation, which benefits exporters, but is counterproductive for importers.
Economic essentials: The key interest rate and the prime rate
The key interest rate and the prime rate are central to the Canadian financial system. They key interest drives lending rates at the big banks.
Could Canada’s inverted sovereign yield curve mean recession?
Canada’s inverted sovereign yield curve could be an indication of an upcoming recession. US yields exhibited similar curves prior to the 2008 recession.