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Canadian Imperial Bank of Commerce (CIBC)
Symbol CM
Shares Issued 904,692,428
Close 2022-08-29 C$ 64.11
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Globe says BMO, rivals hear heightened volatility ahead

2022-08-30 07:12 ET - In the News

See In the News (C-BMO) Bank of Montreal

The Globe and Mail reports in its Tuesday edition that central banks are entering an era of heightened volatility where the global economy will be buffeted by supply shocks and where controlling inflation may require painful trade-offs between stabilizing prices and supporting economic growth, top policy makers at Jackson Hole, Wyo., warned over the weekend. The Globe's Mark Rendell writes that many of the forces that helped keep inflation low and stable in recent decades have begun to recede. Bank for International Settlements manager Agustin Carstens said: "The global economy seems to be on the cusp of a historic change as many of the aggregate supply tailwinds that have kept a lid on inflation look set to turn into headwinds. If so, the recent pickup in inflationary pressures may prove to be more persistent." European Central Bank's Isabel Schnabel said: "The pandemic and the war [in Ukraine] are likely to add to instability in the years to come." Fluctuations in inflation in the coming years could increasingly be driven by supply-side shocks, rather than changes in demand. Mr. Carstens said the prospect of more supply-side disruptions in the coming years requires a "reset to macroeconomic policy-making."

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