02:00 PM EDT, 04/11/2025 (MT Newswires) -- Avery Shenfeld said while CIBC is expecting a "bit of heat" in food prices, it sees the overall CPI reading for March on Tuesday giving the Bank of Canada "just enough comfort" to deliver a quarter point rate cut as a "bit of a salve" against diving confidence readings. "That's admittedly a call that could easily go the other way, as pausing for clarity would be a reasonable option," he added. According to Shenfeld, the Monetary Policy Report to be released on the same day will concede that the outlook is "still highly uncertain", but one in which the trade and global backdrop presents significant downside risks. "If they do cut, they will reiterate their vigilance on inflation, making it a bit of a "hawkish" cut, while if they pause, they'll clearly want to leave the door open for a further easing ahead if the economy needs it," he said.

(Also on the CIBC calendar for next week is February Wholesale Sales on Monday; March Existing Home Sales and March Housing Starts, as well as February Manufacturing Shipments, on Tuesday; and February Int'l Securities Transactions on Thursday; with markets closed then for Good Friday.)

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