April BOC cut on the table but June still base case -- CIBC ...Middle East

The Bank of Canada dangled some hints that interest rate cuts are coming later this year but offered no clear indications on when that might be.With that, CIBC left its forecast for the first cut in June and 150 bps in total cuts, with a 50 bps cut possible at some point. They say that with a stumble in growth or inflation, April could be on the table (the market sees April as 50/50).CIBC noted some clear hints at lower rates, including 0.8% GDP growth this year weighted to the back half of the year."The pick-up in growth projected for the back half of the year is likely tied to their own expectations for lower rates at that time, since the Governor noted that the meeting has shifted from a

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April BOC cut on the table but June still base case -- CIBC ...Middle East

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