Fed's Uncertain Path Creates Bind for Bank of Canada's Macklem [Financial Post (Toronto, Ontario, Canada)]
Canadian Imperial Bank of Commerce (CM)
Last canadian imperial bank of commerce earnings: 2/26 05:53 am
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Source: Financial Post
Author of the article: You can save this article by registering for free here . Or sign-in if you have an account. (Bloomberg) — The Bank of Canada is getting closer to cutting interest rates, but there are limits to how far and how fast it can move without getting a clearer sign from the Federal Reserve. Governor Tiff Macklem said last week officials are mulling when to cut the bank's benchmark overnight rate from 5%, and he kept the door open to easing as early as June. With core inflation decelerating, markets are putting the odds of a cut at the next meeting at about two-thirds. A cut in July is fully priced. Article content Article content In the US, the immediate path for easing rates appears less certain. Traders expect just one or two cuts from the Fed this year, a sharp change from the start of this year, when they were looking for five or six. Some Fed officials believe it's possible there will be no cuts at all in 2024, given stronger-than-expected growth and s
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- CM's page on the SEC website