Sal Camera
Sales Representative
Read Sal Camera's Blog Contact Sal Camera Go to Sal Camera's Website Follow Sal Camera on Facebook
Follow Sal Camera on Twitter Follow Sal Camera on LinkedIn

Good news! According to a new forecast released by The Bank of Nova Scotia, Canadians can expect low interest rates until 2014.

Updated Wednesday, February 20, 2013  ::  Views (2131)

Scotiabank forecast: Canadian interest rates will remain low

 
Compliments of buzzhomeblog - Posted in MARKET

 

The Bank of Nova Scotia has released a new forecast which tells Canadians to expect low interest rates until 2014.

In the forecast, Scotiabank economists Dov Zigler and Derek Holt estimate the economy will likely average 1.9 per cent growth this year, and 1.8 in 2013.

“At best, we’re going to see a very slow-growth environment with downside risks,” said Holt.

He went on to note that most developed countries will be in a similar position. He expects that strong growth will come from emerging economies like India, Indonesia, and China.

The report noted these factors should keep the Bank of Canada on hold at the current policy interest rate setting into 2014.

This goes against indications from Mark Carney who has signalled there may be a rate hike in the future. An article from The Canadian Press explains Holt’s argument, saying “that given that many global central bankers are easing lending conditions, any counter action from Canada will light a spark under the dollar, further weakening exports.”

Tags: Canadian interest rates

Add a Comment

Fields marked with "*" are required to process your form.
Your Name
*
Email Address (will never be shown)
*
Website
Comment

Allowed XHTML tags : a, b, i, strong, code, acrynom, blockquote, abbr. Linebreaks will be converted Automatically.

CAPTCHA Image