The Daily Canuck 11.06.2026

Research evidence excerpt

The Daily Canuck 11.06.2026

Canada | Financials EquityJuneResearch11, 2026

Figure 1 - BoC Overnight RateThe Daily Canuck 11.06.2026

6.0%

BoC held rates at 2.25%, saying Canada’s economy is weak but not in a true 5.0%4.0%

3.0%recession despite slight GDP declines. Trump signaled he may not renew the

USMCA, although this is not new as with no real discussions taking place 2.0%1.0%

0.0%with Canada, the July 1 deadline was already going to be missed. With this . Jan-08 Jan-11 Jan-14 Jan-17 Jan-20 Jan-23 Jan-26

uncertainty hovering over the market we do not believe that any rate hikes are Source: FactSet, Jefferies

likely anytime soon.

** Join us as we host TD for a luncheon on June 15 (live and

virtual) and for our Canadian Bank Walking Tour on June 23 **

What you need to know:

Yesterday, BoC reported that it kept its policy rate at 2.25% amid weak domestic growth and•

ongoing global uncertainty. The Bank expects inflation to stay close to 3% before easing. Given

excess supply and uncertain global conditions, including geopolitical tensions and trade risks,

the Bank held rates steady but signaled it is prepared to respond if inflation pressures persist.

Today, Statistics Canada will release Building Permits data for April, which is a leading indicator•

of housing supply.

Headlines

BNS: Scotiabank Accelerates Enterprise Adoption of AI with New Scotia Intelligence Capabilities

(CNW) Yesterday, Scotiabank reported that it is scaling its Scotia Intelligence platform, expanding

AI tools to over 71,000 employees to improve client experience, efficiency, and risk management.

Adoption is rising, with a 30% q/q increase in AI-assisted client responses and 5,500 engineers using

AI for coding. The bank is supporting rollout with training, workshops, and mandatory risk programs