CIBC's Week Ahead Market Call For Canada

BY MT Newswires | ECONOMIC | 06/20/25 01:55 PM EDT

01:55 PM EDT, 06/20/2025 (MT Newswires) -- CIBC's Ali Jaffery and Katherine Judge noted all eyes will be on the CPI report Tuesday to see if core measures show a sufficient enough moderation in the monthly pace to allow the Bank of Canada to cut in July. CIBC forecasts a rise of 0.6% month over month and 1.8% year over year in May, compared to a consensus 0.5% and 1.7%.

According to the same duo, the GDP data for April next Friday is likely to show no growth. They said a further weakening in the May advance estimate would add to the evidence that the one-time lift to inflation from tariffs will be offset by weaker demand ahead. CIBC is forecasting 0.0% month over month.

(On the calendar for next week are a $5.3 billion auction of 10-Yr Canadas on Wednesday and a $6 billion auction of 2-Year Canadas on Thursday. April Payrolls data is also slated for release Thursday.)

Price: 94.43, Change: -0.14, Percent Change: -0.15

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