CHICAGO, ILLINOIS and TORONTO, ONTARIO — (Marketwire) — 09/12/12 — Investors are awaiting the completion of the Federal Reserve-s two-day policy meeting, which could bring further stimulus action from policymakers or guidance on future interest rates. Mechanisms such as quantitative easing or a change in interest rates could have an impact on the overall economy and stock markets.
The last major action by the Federal Reserve was the extension of Operation Twist – the program in which the Fed sells short-term bonds and buys long-term bonds in order to lower long-term interest rates – from its original completion date of June 2012 to the end of the year; it also increased the size of the program from $400 billion to $667 billion. The current federal funds rate sits in a 0.00 per cent to 0.25 per cent range, where it has been since December 2008.
BMO experts are available, ahead of the meeting and following the Fed-s decision, to provide commentary on which sectors of the economy and markets will be affected.
Experts include:
Journalists who wish to arrange an interview with one of our experts should contact BMO Corporate Communications at (416) 867-3996 or (212) 702-1992.
About BMO Financial Group
Established in 1817 as Bank of Montreal, BMO Financial Group is a highly diversified North American financial services organization. With total assets of $542 billion as at July 31, 2012, and more than 46,000 employees, BMO Financial Group provides a broad range of retail banking, wealth management and investment banking products and solutions.
Contacts:
Media Relations Contacts:
Peter Scott, Toronto
(416) 867-3996
Ronald Monet, Montreal
(514) 877-1873
Laurie Grant, Vancouver
(604) 665-7596
Martha McInnis, New York
(212) 702-1992
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Twitter: @BMOmedia