If RBC CEO is right about impending spending spree, interest rates will rise sooner than expected [Financial Post (Toronto, Ontario, Canada)]
Royal Bank Of Canada (RY)
Last royal bank of canada earnings: 2/21 06:00 am
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Source: Financial Post
Article content How are you going to spend your pandemic savings? Think carefully. The answer should inform the path for interest rates, but the two most important figures in Canadian finance disagree on how you'll respond. Advertisement Article content David McKay, chief executive of Royal Bank of Canada, the country's biggest lender and second-biggest company by market capitalization after Shopify Inc., thinks we're on the verge of an epic shopping spree. Tiff Macklem, the Bank of Canada governor, concedes that possibility, but thinks it's more likely a shell-shocked nation will use most of its excess cash to save, invest and pay off debt. His outlook is one of the reasons the central bank doubled down on its pledge to leave the benchmark lending rate at 0.25 per cent until at least the second half of 2022, even as inflation escaped the Bank of Canada's comfort zone this summer. Macklem and his peers at other central banks see inflation as mostly a one-off due to pandem
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Earnings
- 2/28/24 - Beat
RY
Sec Filings
- 4/26/24 - Form 424B2
- 4/26/24 - Form 424B2
- 4/26/24 - Form 424B2
- RY's page on the SEC website