CHICAGO, ILLINOIS and TORONTO, ONTARIO--(Marketwire - Sept. 12, 2012) - 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.
- Dr. Sherry Cooper, Chief Economist, BMO Financial Group
- Michael Gregory, Senior Economist, BMO Capital Markets
- Serge Pepin, Vice President, Investment Strategy, BMO Asset Management
- Andy Busch, Global Currency and Public Policy Strategist, BMO Capital Markets
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.