BMO: Keep a Close Eye on Debt Levels During Holiday Shopping Season

(firmenpresse) - TORONTO, ONTARIO -- (Marketwire) -- 12/26/11 -- With the holidays in full-swing, BMO Bank of Montreal today released tips on how to keep debt levels in check over the holiday season.

Following the comments Monday by Bank of Canada Governor Mark Carney, BMO offered Canadians tips on how to keep debt levels in check over the holiday season.

"With the holiday shopping season in full swing, consumer spending is likely higher than normal among Canadian households," said Su McVey, Vice President, Customer Communications & Marketing, BMO Bank of Montreal. "Especially at this time of the year, consumers need to be prudent and watchful in regards to their finances and keep in mind the importance of proper debt management, including credit card spending, to avoid any harsh surprises in the New Year."

"Canadian households continued to amass more debt in the third quarter of 2011, now totalling more than $1.6 trillion or 151 per cent of personal disposable income - both record-high levels," said Michael Gregory, Senior Economist, BMO Capital Markets. "Abnormally low interest rates have kept these elevated debt burdens very manageable, for now. But, Bank of Canada Governor Mark Carney has been warning Canadians to be cautious with their credit demands as 'more normal' interest rates will eventually return."

BMO Bank of Montreal offers these 4 tips to avoid over-spending over the holiday season:

BMO experts are available to discuss ways Canadians can deal with debt and manage spending and savings.

For more information, please visit .



Contacts:
Media Contacts:
Matt Duffin, Toronto
416-867-3996


Sarah Bensadoun, Montreal
514-877-8224


Laurie Grant, Vancouver
604-665-7596

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Bereitgestellt von Benutzer: MARKETWIRE
Datum: 26.12.2011 - 11:00 Uhr
Sprache: Deutsch
News-ID 99880
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