Tag Archives: Bank

Stephen Poloz may have to drop rates to zero, ex-Bank of Canada adviser warns

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The Bank of Canada may cut interest rates to zero in the next six to 1 . 5 years as a rising Canadian dollar threatens the recovery, according to Fidelity Investments\’ David Wolf. Rebounding oil prices have spurred Canada\’s currency towards the biggest rally among Number of 10 nations versus the U.S. dollar within the last three months. Six reasons ...

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National Bank of Canada’s profit rises 12.5% on financial markets business

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National Bank of Canada, the very first of the country\’s lenders to report second-quarter results, said profit rose 12 per cent on gains from selling shares in Fiera Capital Corp. and higher capital markets earnings. The firm increased its dividend 4 per cent. Net income for the fiscal period ended April 30 climbed to $404 million, or $1.13 a share, ...

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Canadian bank earnings begin: What you need to know before markets open

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U.S. stock index futures are higher today as the dollar retreated from the largest grow in two years and as worries about Greece receded. In early European trading, the dollar was down around another of one percent against a basket of currencies, after jumping 1.3 percent on Tuesday, its biggest rise since July 2013.Greece and its European creditors also have ...

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Bank of Canada’s dovish economic outlook fuels loonie’s fall

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So much for that rally within the Canadian dollar. The dollar fell again Wednesday following dovish comments in the Bank of Canada that voiced concern about the damage a powerful loonie could do in order to the Canadian economy. The currency was down 0.23 cents, or 0.28 per cent, to US$80.26. The loonie has slid roughly four percent in the ...

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Bank earnings day! What you need to know before markets open

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U.S. stock index futures are lower today, overwhelmed by concerns about Greece\’s capability to strike an offer with its creditors, but a raft of upbeat Canadian bank earnings may boost the TSX. Canadian Imperial Bank of Commerce reported a better-than-expected quarterly profit on Thursday, boosted with a buoyant Canadian capital market.Royal Bank of Canada, the nation\’s top lender, posted a ...

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Bank of Nova Scotia upgraded to outperform

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Investors have frequently owned Bank of Quebec for its international operations – valuing growth abroad over relatively slower business in North America. The bank has operations in more than 55 countries around the world, primarily in Latin America and also the Asia-Pacific region, but also in Europe and the Middle East. Late last year, chief executive Brian Porter announced a ...

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Deutsche Bank appoints John Cryan as new CEO in surprise revamp

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FRANKFURT – Deutsche Bank AG named John Cryan as ceo in a surprise revamp after Anshu Jain and Juergen Fitschen struggled to win investor backing for a strategy overhaul. Cryan, the former chief financial officer at UBS Group AG, will run the firm alongside Fitschen after Jain leaves on June 30, the organization said inside a statement on Sunday. The ...

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Bank of America: The biggest risk to global stocks is exactly the opposite of what most people think

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No one knows for sure when the Fed can make its first rate hike in nearly ten years, but Bank of America says most people are ignoring an interesting risk: that the Fed doesn’t hike and actually embarks on another round of QE. Here’s an excerpt from the note sent by the firm and lead analyst Savita Subramanian. Bond swings ...

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Chances of Bank of Canada interest rate cut sit at 35%, says RBC’s Eric Lascelles

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Chances the Bank of Canada will cut interest rates in the next couple of months are about one in three as a weaker currency does not boost exports and companies continue to grapple with lower oil prices, according to Eric Lascelles. Loonie overvalued by 10%, dragging on Canadian growth: CIBC CIBC World Markets says the loonie continues to be overvalued ...

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Why the Bank of Canada’s ’emergency surgery’ rate cut didn’t work

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For months now, Bank of Canada Governor Stephen Poloz as well as an accompanying chorus of economists happen to be predicting that the second quarter would be turnaround time. \’R\’ word returns to haunt Canada as economy does not shake off oil price plunge Data out this week showed the damage of oil’s collapse is deeper than many thought, raising ...

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