Mark Carney’s Secret Weapon? Being Reasonable

If you are working in an industry that is being threatened by U.S. tariffs, it might become a lot more difficult to borrow money from the nearby bank. According to an internal BMO memo that was shared with its brokers, they plan to tighten their lending criteria for self-employed borrowers who are working in Aluminum and Steel sectors. This directive also applies to other ‘high-risk’ industries, ranging from manufacturing and farming to other natural resources. The bank claims this move is being done to protect the ‘long-term financial health’ of its customers....