Scotiabank ROE reached 14.2% last quarter, clearing its 14% goal two years early, with Canadian banking above 19% and international banking pivoting to growth.
The Bank of Canada rate hold keeps the overnight rate at 2.25% for a seventh straight decision as tariffs and oil prices lift inflation risk.
The bank CEOs credit outlook stayed positive at the Scotiabank Financials Summit, even as Canada-U.S. tariffs escalated and TD set aside $500 million.
Canada retaliatory tariffs on $20B in U.S. goods are now in force, Washington bans Canadian dairy, alcohol and motorcycles from Sept. 29, and Ottawa looks to the EU.
Canada retaliatory tariffs took effect Tuesday as Prime Minister Mark Carney warned in a national video that pivoting away from the U.S. will carry real costs.
Trump signed five proclamations creating a Canadian alcohol import ban from Sept. 29, plus 50 per cent tariffs on dairy, wood, aluminum and furniture.
Superintendent Routledge will join a fireside chat at the Scotiabank Financials Summit in Toronto on Sept. 9, 2026, webcast live with a 30-day replay.
Think tanks say Canada megaprojects need regulatory certainty and 350,000 skilled trades workers to convert $1 trillion in pledged capital into construction.
Canada tariffs on construction materials now cover $27.6 billion in U.S. imports, with many steel and aluminum products moving from 25% to 50%.
The Bank of Canada policy rate stays at 2.25% for a seventh consecutive decision as new US tariffs, elevated oil prices and roughly 3% headline inflation complicate a recovery the Bank calls broadening but not settled.
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