{"id":1738,"date":"2024-09-17T17:29:56","date_gmt":"2024-09-17T21:29:56","guid":{"rendered":"https:\/\/www.phillipsandprem.ca\/blog\/?p=1738"},"modified":"2024-09-17T17:29:56","modified_gmt":"2024-09-17T21:29:56","slug":"bank-of-canada-could-cut-interest-rate-to-3-in-less-than-five-months-cibc","status":"publish","type":"post","link":"https:\/\/www.phillipsandprem.ca\/blog\/2024\/09\/17\/bank-of-canada-could-cut-interest-rate-to-3-in-less-than-five-months-cibc\/","title":{"rendered":"Bank of Canada could cut interest rate to 3% in less than five months: CIBC"},"content":{"rendered":"

CIBC predicts the Bank of Canada (BoC) will push for more aggressive rate cuts, and Canadians could see a significant drop as soon as December.<\/p>\n

In June, the Bank\u00a0dropped<\/a>\u00a0the interest rate from a longstanding 5% to 4.75%. That move was the first in more than four years, following six rate holds. Another quarter-point cut followed in July, bringing the rate to 4.5%. Then, in September, the BoC\u00a0cut the key interest rate to 4.25%<\/a>.<\/p>\n

CIBC economists and other industry experts expect a quarter-point cut in October.<\/p>\n

In its\u00a0Economics Forecast report<\/a>\u00a0published on September 12, CIBC predicts that something more aggressive will occur within less than five months \u2014 two half-point cuts in December and January.<\/p>\n

This means we could potentially see the rate drop to 3% in January.<\/p>\n

\u201cThat\u2019s in contrast to a prior forecast that had rates easing at 25 basis points at a time, and we no longer expect any pauses on the path to less restrictive rates,\u201d CIBC economist Avery Shenfeld said in the report.<\/p>\n

Full article below:<\/p>\n

https:\/\/dailyhive.com\/vancouver\/cibc-bank-of-canada-interest-rate-cuts-report?utm_campaign=Newswire_Real%20Estate%20Insider&utm_medium=email&_hsenc=p2ANqtz-8rilo315RyliYFS9ORQSPQctWkmJ76fTpr0a5bv0n8fwXqVTL4Y0DoC35ybIhgePZQ2XL6MM4q9BhF9xQRBuQ1ZuPTxDYbtvBEhag5Qix8BckgiZs&_hsmi=325057396&utm_content=325057396&utm_source=hs_email<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

CIBC predicts the Bank of Canada (BoC) will push for more aggressive rate cuts, and Canadians could see a significant drop as soon as December. In …<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-1738","post","type-post","status-publish","format-standard","hentry","category-uncategorized"],"aioseo_notices":[],"aioseo_head":"\n\t\t\n\t\n\t\n\t\n\t\n\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t