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Bank of Montreal
Symbol BMO
Shares Issued 722,070,767
Close 2025-06-18 C$ 145.57
Market Cap C$ 105,111,841,552
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Globe says BMO's Kavcic sees population growth stagnate

2025-06-19 08:53 ET - In the News

The Globe and Mail reports in its Thursday edition that the Canadian population barely grew over the first three months of the year, and the number of temporary residents fell for a second consecutive quarter, a result of deliberate policy changes by Ottawa to reduce immigration levels after years of soaring growth. The Globe's Vanmala Subramaniam writes that between Jan. 1 and April 1, 2025, the overall population grew by just 20,107 people to roughly 41.55 million, according to Statistics Canada estimates published Wednesday. At 0.05 per cent, this was the weakest quarter for growth since the height of the COVID-19 pandemic, when border restrictions limited migration to the country. From 2021 to 2024, the population jumped by an average of 217,000 people a quarter, a historic period for growth that raised widespread concerns about access to housing and health care. BMO economist Robert Kavcic said in a note to clients that greater outflows of foreign workers and international students will be seen over the next two years as Ottawa tries to hit its 5-per-cent temporary-resident target. The cost of rent is being affected. Toronto condo rents, in particular, have dropped dramatically, by 10 per cent in the past year.

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