Investment Solutions for Municipalities

Economic Review The Bank of Canada The Bank of Canada kept the overnight interest rate at 0.25% at its September 8th meeting The Bank acknowledged that growth appears weaker than it had previously assumed although it noted that the contraction in Q2 was "largely" due to weakness in exports stemming from supply chain disruptions The BOC continued to assess recent strength in inflation as "transitory" and noted that medium term inflation expectations remain "well anchored" 2.5 2 1.5 1 0.5 0 CIBC CONFIDENTIAL Canadian Historical Yield Curves 3M 6M 1Y 2Y 3Y 4Y 5Y 6Y 7Y 8Y 9Y 10Y 20Y 30Y 1Y Prior 6M Prior Sep-21 Source: Bloomberg, as of 14-September-2021 12

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