The Globe and Mail reports in its Wednesday edition that BMO chief executive officer Darryl White says that even when interest rates begin to cool, banks and consumers will face a set of new challenges. The Globe's Stefanie Marotta writes that at the lender's annual shareholder meeting Tuesday, Mr. White pointed to shifting dynamics from the climate and energy transition and from evolving technology demands. "While inflation fell from four-decade highs across North America, it remains sticky, keeping borrowing costs high and global demand low, risking a higher-for-longer rate environment," Mr. White told shareholders. "And even when rates do start to ease -- and they should in time -- we will find ourselves in a new normal, an environment with fundamentally different characteristics than that of the past two decades." Statistics Canada said Tuesday that the country's inflation rate edged higher in March, but core inflation was below 1.5 per cent. Last week, Bank of Canada Governor Tiff Macklem said recent inflation trends are promising, but he will need to watch the pace of inflation for longer before cutting interest rates. He cautioned that inflation could rise again if the central bank cuts rates too soon.