A warning sign from the Big Banks of a possible recession
The Decibel
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Introduction
The six biggest banks in Canada have reported their earnings for the second quarter. Only one of them, CIBC, actually topped analyst estimates. More of them, TD, RBC, Scotiabank, and BMO, they posted lower than expected profits. Stephanie Marota reports on banking for the globe. She explains why these numbers are surprising,. The reasons behind them, and why the murmurs of a recession are starting to get louder.
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