Restrictive rates ‘no longer' needed, expect 50-bps cut from BoC: economist [BNN Bloomberg (Canada)]
Bank Of Montreal (BMO)
Last bank of montreal earnings: 2/25 06:00 am
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Source: BNN Bloomberg
Citi's Veronica Clark told BNN Bloomberg that her call for a jumbo rate cut from the central bank has not changed since its last meeting, when it lowered rates by 50 bps after three straight 25-bps cuts. “We are expecting a 50-bps cut on Wednesday, that was my call really after the October meeting when we saw a similarly large 50-bps cut,” she said in a Monday interview. “The guidance then (was) that rates would come down if activity and inflation evolved in line with the bank's forecast – if anything we've had softer activity then the bank's forecast – so I think it does make sense to go ahead and do another larger 50-bps cut.” On Friday, Statistics Canada released its November labour force survey, which found the Canadian unemployment rate rose to 6.8 per cent, the highest it's been since 2017, outside of the COVID-19 pandemic. The Canadian Press reported on Friday that Bank of Montreal's Chief Economist Douglas Porter said the jobs data provided the Bank of Canada with a “
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- 12/5/24 - Miss
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- 12/20/24 - Form FWP
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- BMO's page on the SEC website