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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
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Free AccessCIBC Don't See Any BoC Rate Relief Until Spring 2024
- CIBC note that "hiking further adds to the risk that the BoC gets more than it is bargaining for in terms of the sharpness of the economic slowdown ahead", even if an extra 25 or even 50bp will have a limit macroeconomic impact in terms of hard landing probabilities.
- After recent upward growth revisions for both the US and Canada, the starting point for 2H23 was at least a somewhat healthier backdrop.
- "Still, it will be important for the Bank, and the Fed, to avoid hiking at every meeting to ensure that they can pick up the early signals of a slowdown before overdoing the monetary tightening."
- "Given the need to push inflation lower, we expect that neither the Fed nor the BoC will offer any interest rate relief until late spring 2024."
To read the full story
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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.