05:56:48 EDT Sun 11 May 2025
Enter Symbol
or Name
USA
CA



Canadian Imperial Bank of Commerce (CIBC)
Symbol CM
Shares Issued 931,088,875
Close 2023-11-30 C$ 56.10
Market Cap C$ 52,234,085,888
Recent Sedar Documents

FP says CIBC's Grantham sees a Q2 rate cut next year

2023-12-01 08:32 ET - In the News

The Financial Post reports in its Friday, Dec. 1, edition that Canada's gross domestic product surprised on several fronts Thursday, but economists say the data suggest the economy is stalling. The Post's Gigi Suhanic writes that CIBC Economics economist Andrew Grantham said: "There were a lot of moving parts in today's releases given the historic revisions alongside the downside surprise to Q3's headline number. However, the underlying trend still appears to [be] one of muted growth, and a decline in economic activity." Here follows his thoughts on the GDP and its meaning for the Bank of Canada: "Through all of the noise caused by revisions and swings in trade and inventories (which could have been influenced by the port strike early in the quarter) the underlying trend remains one of modest growth on aggregate but a decline in activity in per capita terms. While GDP should see a decent bounce in Q4, that will partly reflect a rebound from some of the supply constraints that impacted the third quarter. Overall the sluggish trend in economic activity and further decline in the job vacancy rate today keeps us on track for a first interest rate cut in Q2 next year, which is in line with our previous forecast."

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