Canadian Bail-in Regime Update
Canada's Economic Outlook Post COVID - Inflation
10
Canadian Inflation Year over Year
% change
•
BoC expected to drop overnight rates at
elevated levels through calendar 2024,
following expected modest easing of policy
rates.
CPI slowed to 2.9% in January 2024 from
December 2023's 3.4% number; annual
price growth excluding gasoline slowed to
from 3.5% to 3.2% in January
Canadian Real GDP growth expected to
increase by approx. 1.0% in fiscal 2024
Interest rates are expected to remain steady
until at least Q2-2024, after which cuts are
expected
8
6
4
2
0
2003
2005 2007 2009
2011 2013 2015 2017 2019 2021 2023
-2
-4
9%
7%
5%
3%
Canada CPI
US CPI
Inflation Declining From Peak Levels
CIBC
1%
-1% 2019
2020
2021
2022
2023
Source: Statistics Canada, CIBC Economics
Year over year % change
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