04:14:35 EDT Mon 20 Sep 2021
Enter Symbol
or Name

Login ID:
Bank of Montreal
Symbol BMO
Shares Issued 647,242,067
Close 2021-05-27 C$ 126.18
Recent Sedar Documents

FP/wire say TD, rivals hear BOC bond buy cuts expected

2021-05-28 09:26 ET - In the News

See In the News (C-TD) Toronto-Dominion Bank

The Financial Post reports in its Friday, May 28, edition that the Bank of Canada is likely to cut its bond-buying program again this year, possibly as soon as July, as provinces ease curbs to contain COVID-19 and inflation pressures build. A Reuters dispatch to the Post reports that some analysts see the BOC dialing back its bond purchases to $2-billion per week or less -- from the current level of $3-billion per week -- at the central bank's July policy announcement. Other analysts see a reduction in October. By April next year or earlier, purchases are likely to be $1-billion per week or less, and continue for some time to offset the amount of bonds maturing on the BOC's balance sheet. In April, the BOC became the first major central bank to cut back on pandemic-era money-printing stimulus programs and signalled it could begin raising its key interest rate from the current floor of 0.25 per cent in the second half of next year. It said further cuts to bond purchases would be guided by its assessment of the "strength and durability" of economic recovery. The BOC is due to have in hand the May inflation report as well as quarterly business and household surveys before its July meeting.

© 2021 Canjex Publishing Ltd. All rights reserved.