Bank of Montreal's chief executive Darryl White says economic growth in Canada is 'moderating' but it's 'no screeching halt' and the risk of a recession in the coming year is relatively low.
The BMO Bank of Montreal logo is seen on the BMO Nova Centre, housing their Atlantic Canadian headquarters and support services, in Halifax on Tuesday, April 2, 2019. THE CANADIAN PRESS/Andrew VaughanTORONTO -- Bank of Montreal's chief executive Darryl White says economic growth in Canada is "moderating" but it's "no screeching halt" and the risk of a recession in the coming year is relatively low.
"And when we look at employment rates, we look at inflation, they don't line us up to driving ourselves towards a recession." As well, Steve Eisman, a senior portfolio manager at Neuberger Berman in New York, who was featured in the book and film The Big Short, recently reiterated his bet against the big Canadian banks, pointing towards the real estate sector.
While the performance of each housing market in Canada varies, there continues to be net growth, White told reporters.
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