05:50:38 EDT Tue 19 Oct 2021
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Bank of Montreal
Symbol BMO
Shares Issued 647,059,842
Close 2021-03-16 C$ 109.60
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FP/wire say BMO, rivals hear loonie outperforming peers

2021-03-16 09:11 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 Tuesday, March 16, edition that the Canadian dollar is outperforming all its peers this year, and analysts see room for more gains as the economy recovers. A Bloomberg dispatch to the Post reports that data showing stronger-than-expected job growth in February provided the impetus for the loonie to climb to a three-year high on Friday, even as the U.S. currency rose against the majority of its global peers on the back of surging Treasury yields. The Canadian dollar has eked out an advance of about 2 per cent so far in 2021, the most among 31 major currencies tracked by Bloomberg against the greenback. Strategists see the potential for more gains as a stronger economy makes it more likely that the Bank of Canada will taper its asset purchases. While the BOC maintained its policy rate this month and signalled it will not change it until 2023, bets on a stimulus reduction have grown. The BOC might "feel the pressure" to deliver tapering at its April decision, analysts at ING Bank including Chris Turner wrote. "Signs of materially rising inflation may see investors starting to doubt the BOC 2023 forward guidance, and possibly add some pressure to Canadian front-end rates.

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