Wholesale Funding and Energy Portfolio Strategy
Stable Economic Fundamentals
Low unemployment rate reflects solid growth in Canadian economy
UNEMPLOYMENT RATE
14
12
10
6
4
2
0
Canada -
official
US
Canada
comparable
to US
90 92 94 96 98 00 02 04 06 08 10 12 14 16 18
Sources: Scotiabank Economics, Statistics Canada, BLS. Data through October 2018.
•
Strengthening economic growth and a
gradual rebound in non-energy exports
Household spending remains buoyant,
underpinned by relatively low and stable
unemployment, as well as
low borrowing costs
Population and labour force growth
.
supported by increasing immigration
Stable inflation within Bank of Canada target
band
HEADLINE INFLATION
6
Canada
Bank of Canada
Target Inflation Band
(%)
LABOUR FORCE PARTICIPATION RATE
64
62
22 22%
70
68
66
US
-2
60
00 02 04
06 08 10 12
14 16 18
Sources: Scotiabank Economics, Statistics Canada, BLS. Data through September (Canada)
and October 2018 (US).
Canada
US
90 92 94 96 98 00 02 04 06 08 10 12 14 16 18
Sources: Scotiabank Economics, Statistics Canada, BLS. Data through October 2018.
Scotiabank® 53View entire presentation