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BMO
Sign of the times: Why this bank bailed out of P&C reinsurance
August 28, 2019 by David GambrillBuffeted by severe weather claims, the Bank of Montreal has decided to exit the property and casualty reinsurance side of the business, BMO announced during a conference call Tuesday. “In Q4 of last year, we said we were reviewing ways…
How long you might wait for interest rate hikes
July 12, 2019 by Greg MeckbachInterest rates in Canada won’t change for the next 18 months, but what happens after that is hard to predict, a Bank of Montreal economics expert suggested Thursday. The Bank of Canada announced Wednesday it is keeping the overnight interest…
Canadian bank breaches highlight rise of cyber threats as new exploitation strategies
May 31, 2018 Ian Bickis - THE CANADIAN PRESSApparent attempts to extort two major Canadian banks highlight the increasing threat and variety of cyberattacks against major companies. Attacks against BMO and CIBC-owned Simplii – that compromised the information of up to a combined 90,000 Canadians – made public…
BMO and CIBC’s Simplii warn fraudsters may have accessed data of 40,000 clients
May 28, 2018 The Canadian PressTORONTO – Two of Canada’s biggest banks are warning that “fraudsters” may have accessed certain personal and financial information from some customers. The Bank of Montreal said fraudsters contacted the bank on Sunday claiming to be in possession of certain…
Weaker inflation slows to 1.3%, could weigh on Bank of Canada’s rate decision
June 23, 2017 Andy Blatchford - THE CANADIAN PRESSOTTAWA – Steps by the Bank of Canada to prepare the country for an eventual interest rate hike are bumping up against an inflation rate that has eased up on the accelerator. Weaker year-over-year growth in gasoline prices last month…
IBM and SecureKey Technologies to deliver blockchain-based network for Canadian consumers
March 21, 2017 by Canadian UnderwriterIBM and SecureKey Technologies, an identity and authentication provider company, announced on Monday that they are joining forces to “enable a new digital identity and attribute sharing network” based on IBM Blockchain. “The network will be designed to make it…
Bank of Canada keeps key rate at 0.5% amid stronger yet uncertain global economy
December 7, 2016 Andy Blatchford - THE CANADIAN PRESSOTTAWA – The Bank of Canada is holding its benchmark interest rate at 0.5 per cent as it sees the stronger world economy continuing to face “undiminished” uncertainty. In making the scheduled announcement Wednesday, the central bank said its decision…
Big banks shave 2016 growth outlooks for Canada in wake of Alberta wildfire
May 12, 2016 Andy Blatchford - THE CANADIAN PRESSOTTAWA – The effects of the enormous Alberta wildfire on the ever-crucial oil sector have prompted forecasters to trim their 2016 economic growth predictions for the entire country. Experts, including those from several big banks, have shaved their outlooks in…