02:28:58 EDT Mon 13 May 2024
Enter Symbol
or Name
USA
CA



Canadian Imperial Bank of Commerce (CIBC)
Symbol CM
Shares Issued 931,088,875
Close 2024-01-11 C$ 62.05
Market Cap C$ 57,774,064,694
Recent Sedar Documents

FP says CIBC, rivals hear optimism on the rise

2024-01-12 08:45 ET - In the News

Also In the News (C-BMO) Bank of Montreal
Also In the News (C-BNS) Bank of Nova Scotia
Also In the News (C-NA) National Bank of Canada
Also In the News (C-RY) Royal Bank of Canada
Also In the News (C-TD) Toronto-Dominion Bank

The Financial Post reports in its Friday edition that Canadians appear to be riding a wave of optimism about the economy and their personal financial prospects, says a survey tracking households' views. The Post's Gigi Suhanic writes that the December edition of the Maru Household Outlook Index found almost 40 per cent of Canadians say the economy will improve over the next two months -- that is up from 37 per cent in November and 33 per cent in October. At the same time, fewer households reported their financial position has worsened. Maru Public Opinion vice-president John Wright attributes the uptick in the outlook to a sense of "stability and predictability" people have taken from the Bank of Canada's pause on interest rates. The BOC has held rates at its previous three meetings after raising them to 5 per cent in July. Mr. Wright says: "What they did was give people a chance to organize their lives. Consumers crave predictability and stability. You want to know what you can manage." Mr. Wright says the possible "reward" of interest cuts this year has also likely lifted moods. While the survey results bore some green shoots, the Maru Household Outlook Index remains in pessimistic territory.

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