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VIEW CHANGE: CIBC: 50bp hike in August with 5.75% terminal rate

  • “We can expect the market to remain biased toward pricing in a further 50bps in August in the absence of a material correction in price pressures, and or labour market loosening. Indeed we have now adjusted our policy profile to expect the bank to push through another 50bps in August, rather than 25bps.”
  • “We would expect price persistence to also warrant an additional 25bps adjustment in September.”

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