CIBC

The Canadian economy stayed flat in May, with real gross domestic product showing neither growth nor contraction after a 0.3 per cent expansion in April.
The increase in the consumer price index for the month was largely due to gasoline prices, which shot up by more than 50 per cent from with a year ago.
As Canadians face a double whammy of skyrocketing inflation and the largest interest rate hike seen in 24 years, one expert is warning that prices won't be coming down anytime soon.
The Bank of Canada signaled a more aggressive approach to bringing skyrocketing inflation back under control as it announced the largest single rate increase since August 1998.
That marks the lowest rate in at least two decades and comes even as the local economy's job-creation engine stalled last month.
Central bank says businesses' expectations for near-term inflation have increased, and firms expect inflation to be high for longer than they did in the previous survey.
The combination of a fiercely competitive job market and the still-rising cost of living will likely lead to more companies boosting employee pay this year, experts say.
The U.S. bank authority announced the Wednesday move will shift the country's benchmark rate to a range between 1.5 per cent and 1.75 per cent as it tries to tame soaring inflation.
"Canadian inflation is running more than three times faster than target,'' Desjardins' head of macro strategy, Royce Mendes, wrote in a note to clients Monday.
"...Markets are struggling to predict how we land the economy, do we land it with a slight recession? And our message today is, it could go either way, it's 50-50," says RBC chief executive Dave…