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Canadian Imperial Bank of Commerce (CIBC)
Symbol CM
Shares Issued 904,692,428
Close 2022-09-01 C$ 61.38
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FP says TD, rivals hear BOC wining over the public

2022-09-02 09:34 ET - In the News

See In the News (C-TD) Toronto-Dominion Bank

The Financial Post reports in its Friday, Sept. 2, edition that the Bank of Canada is making progress convincing the public it is serious about curtailing price pressures, a new poll shows. A Bloomberg dispatch to the Post reports that the share of Canadians who expressed some confidence that the BOC remains committed to its 2 per cent inflation target jumped to 57 per cent, according to a Nanos Research. That is up from 49 per cent in May. The pickup in confidence is a welcome development for BOC policy-makers. The BOC is in the middle of one of its most aggressive interest-rate hiking cycles ever to quell inflation that has hit four-decade highs and is hovering at about 8 per cent. The accelerated hikes are in large part a confidence-building exercise to convince Canadians that officials remain focused on cooling price pressures and bringing inflation back down to the central bank's target. Expected inflation is a major determinant of actual inflation, since businesses increase prices and workers seek pay raises in part on what they anticipate prices will look like in future. That is why policy-makers have become very concerned about the self-fulfilling dynamics of persistently high inflation.

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