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Bank of Nova Scotia
Symbol BNS
Shares Issued 1,245,509,843
Close 2025-01-16 C$ 74.43
Market Cap C$ 92,703,297,614
Recent Sedar Documents

Globe says Scotiabank sees BoC propping up housing

2025-01-17 08:23 ET - In the News

The Globe and Mail reports in its Friday edition that January typically ushers in a bump in real estate activity. Guest columnist Penelope Graham writes that instead, 2025 has kicked off with a sense of unease. Economic factors both north and south of the border are casting doubt on the direction for Canadian interest rates and that would shake the confidence of even a seasoned mortgage borrower. There is nothing bond investors dislike more than uncertainty, and our American neighbours are offering it up in spades. Both Canadian and American bond yields -- which underpin the cost of fixed mortgage rates -- have been trending higher since the fall, largely in response to incoming U.S. president Donald Trump's 25-per-cent tariff threats. Of course, if Canada retaliates on tariff threats, the resulting inflation growth would give Canada's central bank less room to cut rates. As Scotiabank economist Derek Holt said in a note: "Stronger easing may be likely if Canada faces tariffs but doesn't retaliate; less easing or tightening may be likely if Canada does retaliate in a significant way. I would also expect assurances that the BoC will ensure proper market functioning throughout this period and do whatever is necessary."

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