Scotiabank Canadian Legislative Covered Bonds Presentation
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%
12
Stable Economic Fundamentals
Canada
Strengthening economic growth alongside firmer
commodity prices and a gradual rebound in non-
energy exports
Household spending remains reasonably buoyant,
underpinned by relatively low and stable
unemployment, as well as low borrowing costs
Population and labour force growth supported by
strong immigration
Stable inflation within Bank of Canada target band
CO
6
y/y % change
5
4
3.
2
1
0
-1
-2
00
02
04
06
Inflation
08
Bank of
Canada
Target
Inflation
Band
10
12
14
10
6
4
2
0
Unemployment Rate
Canada
8
90 92 94 96 98 00 02 04 06 08 10 12
Sources: Scotiabank Economics, Statistics Canada, BLS. Data through April 2017.
Labour Force Participation Rate
70
%
69
68
67
Canada
22 22
66
65
64
63
32
62
US
61
60
90 92 94
96
16
Sources: Scotiabank Economics, Statistics Canada, BLS. Data through March and April 2017.
40
US
US
14
16
Canada
98 00 02 04 06 08 10 12 14
Sources: Scotiabank Economics, Statistics Canada, BLS. Data through April 2017.
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