CEO Darryl White tells shareholders BMO’s U.S. segment has posted income of more than US$1-billion each quarter since acquisition of Bank of the West last year.
Bank of Montreal chief executive officer Darryl White says that even when higher-for-longer interest rates begin to cool, banks and consumers will face a suite of new challenges in a rapidly changing market.
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. With more companies seeking ways to transition to clean energy, Mr. White said that Canada and the U.S. will both benefit as the “world continues to turn to reliable and trusted suppliers of sough-after resources, technology expertise, and all forms of energy.”
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