12:12:01 EDT Sun 05 May 2024
Enter Symbol
or Name
USA
CA



Bank of Montreal
Symbol BMO
Shares Issued 729,249,364
Close 2024-04-24 C$ 127.24
Market Cap C$ 92,789,689,075
Recent Sedar Documents

FP says BMO, rivals hear BOC divided on rate cut timing

2024-04-25 09:36 ET - In the News

Also In the News (C-BNS) Bank of Nova Scotia
Also In the News (C-CM) Canadian Imperial Bank of Commerce (CIBC)
Also In the News (C-NA) National Bank of Canada
Also In the News (C-RY) Royal Bank of Canada
Also In the News (C-TD) Toronto-Dominion Bank

The Financial Post reports in its Thursday edition that divisions within the Bank of Canada over the timing of a rate cut stem from concerns of some members of the BOC's governing council that progress on taming inflation could stall in the face of stronger domestic demand -- or even pick up again in the event of "new surprises." The Post's Barbara Shecter writes that a summary of deliberations for the April 10 rate decision that was published Wednesday says: "Some members emphasized that, with the economy performing well, the risk had diminished that restrictive monetary policy would slow the economy more than necessary to return inflation to target. They felt more reassurance was needed to reduce the risk that the downward progress on core inflation would stall, and to avoid jeopardizing the progress made thus far." Others argued that there were additional risks from keeping monetary policy too tight in light of progress already made to tame inflation, which had come down "significantly" across most goods and services. Some pointed out that the distribution of inflation rates across components of the consumer price index had approached normal, despite outsized price increases and decreases in certain components.

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