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Stock impact report

TD Says Deep Rate Cuts Will Revive Canada's Economic Growth [Financial Post (Toronto, Ontario, Canada)]

Toronto Dominion Bank (The) (TD) 
Last toronto dominion bank (the) earnings: 2/27 06:30 am Check Earnings Report
Company Research Source: Financial Post
Author of the article: You can save this article by registering for free here . Or sign-in if you have an account. (Bloomberg) — The Bank of Canada's decision to begin cutting interest rates ahead of the Federal Reserve will ultimately lead to a “big tailwind” for the Canadian economy, Toronto-Dominion Bank economist James Orlando said. Canada's economy is projected to grow just 0.9% this year, well below the estimated 2.3% growth in the US, according to a Bloomberg survey of economists. Canadian consumers are more sensitive to interest rates — they have more debt than US households, on average, and mortgage rates are reset more frequently. Article content That's why rate cuts are a big deal for Canada, Orlando said in an interview on BNN Bloomberg Television. “We're going to be able to have less of our disposable income go into mortgage payments,” he said. “That, in effect, will be able to close a little bit of this gap between Canada and the United States because we hav Show less Read more
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