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Stock impact report

Posthaste: Why top economists are changing their Bank of Canada rate cut forecast [Yahoo! Finance Canada]

Bank Nova Scotia Halifax Pfd 3 Ordinary Shares (BNS) 
Last bank nova scotia halifax pfd 3 ordinary shares earnings: 2/25 05:30 am Check Earnings Report
But that all changed Friday. After the release of data that showed the jobless rate had hit a seven-year high, markets boosted expectations of a 50-bps cut to 80 per cent and two of the Big Six bank economists changed their forecast. The Bank of Nova Scotia and Bank of Montreal joined the pack predicting the central bank will cut the interest rate to 3.25 per cent on Dec. 11. The rise in unemployment to 6.8 per cent was enough to change the mind of economists led by BMO Capital Markets chief economist Douglas Porter. “That's the highest jobless rate in nearly eight years (again, apart from 20/21), and if there is one indicator that will stress the Bank of Canada, this would be the one,” said Porter in a note after the data. “When the facts change, we change, and the sharp rise in the jobless rate is a big change, especially after two months of calm,” he said. Porter stressed that a bigger cut is what BMO believes the Bank of Canada will do, not necessarily what it should Show less Read more
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