Transcription of MARKET CALL - CIBCWM.com
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MARKET CALL - CIBCWM.com
CIBC Capital Markets Economic Insights - april 6, 2016. MARKET call . After Janet Yellen's dovish comments last week, an april Fed rate hike has been ruled out. But markets are now too complacent about the outlook for fed funds thereafter. The economy should be able to handle a couple of hikes later in the year, with June still being our base case for the first move of 2016. In Canada, the year began with fireworks, but don't expect us to make much progress on closing the output gap this year. Look for growth to settle at roughly for the full year, with strength not showing up until later in the year and into 2017, when the effects of fiscal stimulus and the weak Canadian dollar work their way through the economy. The loonie's rebound has been tied to both oil prices and a more dovish sounding Fed.
CIBC CAPITA MAETS Economic Insights - April 6, 2016 2 MARKET CALL INTEREST & FOREIGN EXCHANGE RATES After Janet Yellen’s dovish comments last week, an April Fed rate hike has been ruled out.
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