In the report released Monday from chief economist Avery Shenfeld and senior economist Andrew Grantham, CIBC forecasts another rate hike of a quarter percentage point from the Bank of Canada in July or September, which would bring the policy rate to 5.0 per cent.according to CIBC forecasts. The central bank policy rate is projected to fall to 3.
Fiscal stimulus that puts more money in the pockets of Canadians, for example, can fuel demand and inflation, in turn. That budget, which passed through the House of Commons last week in Ottawa, has been heavily criticized by the federal Conservatives as overspending.Public sector spending not helping cool inflation: CIBC
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