Last month, for the first time in more than four years, the Bank of Canada cut interest rates.

The Canadian equity markets reacted positively to this announcement. Should inflation continue to ease, Canadians could expect further cuts, which typically are well received by capital markets.

CIBC Asset Management discussed sentiments around inflation in their recent article: With rates starting to come down, will inflation follow?

In any event, there is much discussion about “higher for longer” rates.  Bank of Canada governor Tiff Macklem is clear that Canada is unlikely to see a return to pre-COVID-19 rates.

When it comes to economic insight, we always enjoy hearing from Benjamin Tal, Managing Director and Deputy Chief Economist of CIBC Capital Markets Inc. We look forward to hosting him for another exclusive client event in November 2024. Details to come closer to!