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Stock impact report

Canada holds key rate steady, says will act if war inflation persists [Yahoo! Finance]

Canadian Imperial Bank of Commerce (CM) 
Last canadian imperial bank of commerce earnings: 2/26 05:53 am Check Earnings Report
Company Research Source: Yahoo! Finance
Canada's central bank held its key lending rate at 2.25 percent on Wednesday, but warned it may need to act if inflation caused by the Middle East war persists. The fallout from the US-Israeli strikes on Iran has sent energy prices soaring. The impacts in Canada, a net oil exporter, have been more muted than in other regions, but prices at the pump are shooting up. The Bank of Canada said it would continue "looking through the war's immediate impact on inflation," and would not raise rates in response to temporary oil price shocks. But it added that it "will not let higher energy prices become persistent inflation," and said it was "ready to respond as needed." Bank of Canada Governor Tiff Macklem told reporters: "The higher oil prices go, and the longer they're higher, the more likely it is that we'll have to raise rates." But, he added, the bank's baseline forecast is that oil prices will come down. He said the bank will be closely watching to see if elevated energy costs Show less Read more
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