02:55 PM EDT, 10/16/2024 (MT Newswires) -- Macro Considerations: Given the totality of data received over the last month, CIBC believes the Bank of Canada is "on track" to deliver back to back 50bp cuts in October and December. In looking back to prior episodes where the BoC switched gears to a faster pace of easing mid-cycle, CIBC said it had seen 10s30s steepen by near 12.3bps on average. "However," it added, "the last few weeks have in fact seen some flattening of the curve, which suggests there remains ample room to move higher. In addition, we suspect the expected endpoint of the Bank's cycle will drift lower over the coming months, which should add fuel to any steepening pressure across the curve. "

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