{"id":956490,"date":"2026-11-03T08:00:20","date_gmt":"2026-11-03T08:00:20","guid":{"rendered":"https:\/\/www.newsbeep.com\/ca\/956490\/"},"modified":"2026-11-03T08:00:20","modified_gmt":"2026-11-03T08:00:20","slug":"cibc-questions-bocs-inflation-outlook-sees-december-pause","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/ca\/956490\/","title":{"rendered":"CIBC questions BoC\u2019s inflation outlook, sees December pause"},"content":{"rendered":"<p>November 2nd, 2026, 5:23PM<\/p>\n<p><img fetchpriority=\"high\" decoding=\"async\" width=\"1400\" height=\"939\" class=\"wp-image-80434\" style=\"width: 450px\" src=\"https:\/\/www.newsbeep.com\/ca\/wp-content\/uploads\/2026\/11\/BoC-rate-forecast-story_med.jpg\" alt=\"\"  \/><\/p>\n<p>CIBC chief economist Avery Shenfeld says the Bank of Canada may be overstating how long energy costs will keep inflation elevated, as he forecasts a December pause followed by one more rate hike, probably in January.<\/p>\n<p>Speaking on CIBC\u2019s Eyes on the Economy podcast, Shenfeld said spare capacity in the economy should limit businesses\u2019 ability to pass higher energy costs on to consumers.<\/p>\n<p>\u201cTo me, that\u2019s putting a little too much emphasis on cost push inflation,\u201d he said.<\/p>\n<p>CIBC has progressively brought forward its expected rate increases, now forecasting a policy rate of 2.75% in the first quarter of 2027, compared with 2.50% previously and 2.25% before that. The expected peak remains 2.75%.<\/p>\n<p>Shenfeld said the BoC\u2019s October decision left room to space out further increases rather than commit to back-to-back hikes.<\/p>\n<p>A prolonged energy shock could require more increases, he said, while lower oil prices and worsening trade conditions could remove the need for another hike.<\/p>\n<p>Visited 41 times, 41 visit(s) today<\/p>\n<p class=\"modified small cntr\" itemprop=\"dateModified\">Last modified: November 2, 2026<\/p>\n","protected":false},"excerpt":{"rendered":"November 2nd, 2026, 5:23PM CIBC chief economist Avery Shenfeld says the Bank of Canada may be overstating how&hellip;\n","protected":false},"author":2,"featured_media":956491,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[11],"tags":[45,49,48,46],"class_list":["post-956490","post","type-post","status-publish","format-standard","has-post-thumbnail","category-economy","tag-business","tag-ca","tag-canada","tag-economy"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts\/956490","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/comments?post=956490"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts\/956490\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/media\/956491"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/media?parent=956490"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/categories?post=956490"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/tags?post=956490"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}