BMO CEO Sees Strong US Growth Despite Higher Rates; Expansion South of Border Key to Bank's Strategy

• BMO CEO says US economy showing signs of stronger than expected growth, particularly in strategically important California market

• BMO well positioned between American and Canadian economies after $16.3B acquisition of Bank of the West last year

• Trade and investment between Canada and US key to economic competitiveness given large bilateral trade relationship

• Canadian banks increasingly looking to expand in US and abroad due to limited opportunities in saturated domestic market

• BMO CEO cautions about higher interest rates for longer, but when rates ease could see "new normal" environment unlike past 20 years