The Economic Brief
The Bank of Canada once again opted to hold interest rates steady this week. Senior Economist Andrew Grantham explains why, and what factors could compel the bank to make a move before year’s end.
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Explore the latest insights, reports, and timely topics affecting economic growth at home and around the world.
Innovation Banking
The Gradient Ascent Podcast: Episode 1
Paul McKinlay, Senior Vice-President and Head of Innovation Banking, and Daniel Lee, Managing Director, Technology & Innovation, Capital Markets, sit down for the first episode of the Gradient Ascent podcast. They break down the recent volatility in software stocks, the impact of AI on valuations, the evolving perspectives of public and private investors, and key insights from the Nvidia conference.
Drivers of Growth
The hidden economic might of Canadian franchises
In 2026, franchising is expected to contribute about $133 billion to the economy, equal to roughly 5% of Canada’s GDP. Yet despite its scale and importance, it’s often overlooked compared to more traditional sectors. As Romal Bryce, Market Vice-President of National Industry Programs, and Greg Windle, Director and National Industry Lead, Franchising & Business Services, write: Whether through hiring incentives, support for technology investments or making it easier to enter the industry, government and business must work together to strengthen this key pillar of Canada’s economy.
Drivers of Growth
In 2026, franchising is expected to contribute about $133 billion to the economy, equal to roughly 5% of Canada’s GDP. Yet despite its scale and importance, it’s often overlooked compared to more traditional sectors. As Romal Bryce, Market Vice-President of National Industry Programs, and Greg Windle, Director and National Industry Lead, Franchising & Business Services, write: Whether through hiring incentives, support for technology investments or making it easier to enter the industry, government and business must work together to strengthen this key pillar of Canada’s economy.
The Economic Brief
The Bank of Canada held interest rates again, but can it really hold steady for the rest of the year?
The Bank of Canada once again opted to hold interest rates steady this week. Senior Economist Andrew Grantham explains why, and what factors could compel the bank to make a move before year’s end.
Drivers of Growth
Building for the future: How traditional businesses are modernizing to grow
Canada's traditional industries — think agriculture, construction, manufacturing — are facing myriad headwinds, from labour shortages and succession gaps to trade uncertainty. As Commercial Banking Market Vice-Presidents Michael Emrich and Brad Ganczar write, the good news is that even the oldest industries can modernize and find new ways to operate, compete and grow.
Drivers of Growth
Ontario’s greenhouse flower business: An unsung hero of Canada’s economy
While it doesn’t always make the headlines, Ontario’s greenhouse floriculture industry is a steady, innovative force in Canada’s economy, sitting at the heart of a larger greenhouse sector. As Dan Murtha, Director and Team Leader, Agriculture and Commercial Banking, and Bradley Haines, Senior Relationship Manager, write: by blending tradition with innovation, the industry quietly delivers growth, diversity, and trade earnings—not just for Ontario, but for Canada as a whole.
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Latest Podcasts
The Sustainability Agenda • EP110
Play podcast: What’s next for electrification policy in Canada?
Philippe Dunsky of Dunsky Energy + Climate Advisors joins Tom Heintzman, Vice Chair, Energy & Climate Finance, to discuss electrification policy and progress in Canada, and how the country can harness its clean electricity advantage to attract capital, drive industrial growth and enhance economic competitiveness.
The Sustainability Agenda | EP110What’s next for electrification policy in Canada?
Eyes on the Economy
Oil shocks and the economy: The base case and other scenarios
CIBC Senior Economist, Andrew Grantham, interviews Chief Economist, Avery Shenfeld, to break down the ramifications of the Iran conflict on global oil prices, explore the intersection of energy markets and American politics, and discuss the expected trajectory for inflation and monetary policy in the U.S. and Canada as oil prices seek a new normal.
The Sustainability Agenda
CERAWeek insights: AI meets energy innovation
Jonathan Goldberg of Carbon Direct joins Tom Heintzman, Vice Chair, Energy & Climate Finance, to discuss key observations from this year’s CERAWeek energy conference, and why the most compelling investment opportunities sit at the intersection of AI proliferation and energy efficiency.
The Energy Shift
How is private credit participating in the Energy Shift?
CIBC's James Wright and Ines Serrao are joined by Jess Thompson, Head of North America Infrastructure Debt at Allianz Global Investors, for a timely discussion on the rapid rise of private credit in US energy and infrastructure. They explore how private credit is complementing banks, bridging funding gaps, and supporting complex projects, with insights on market trends, investor priorities, and opportunities for partnership.
Canadian housing: Anatomy of a correction
This In Focus report analyzes the housing market correction underway in Canada. Given the importance of the housing market to the economy, the current weakness in activity along with falling prices have clear negative macroeconomic implications.Benchmark Home Price
28%
In Ontario, the benchmark price is 28% below the trendlineCondo Market
35%
Condo prices nationally are 35% below the trendlineLatest Videos
The Economic Brief
The Bank of Canada once again opted to hold interest rates steady this week. Senior Economist Andrew Grantham explains why, and what factors could compel the bank to make a move before year’s end.
Innovation Banking
The Gradient Ascent Podcast: Episode 1
Paul McKinlay, Senior Vice-President and Head of Innovation Banking, and Daniel Lee, Managing Director, Technology & Innovation, Capital Markets, sit down for the first episode of the Gradient Ascent podcast. They break down the recent volatility in software stocks, the impact of AI on valuations, the evolving perspectives of public and private investors, and key insights from the Nvidia conference.
Housing
How can offsite manufactured homes help solve Canada’s housing crisis?
Offsite manufactured housing has been a part of residential development in Canada for nearly a century. Tim Samis, Senior Vice-President, and Elsa Hannaford, Vice-President, from our Real Estate Finance team, join Caivan co-founder and co-CEO Frank Cairo to discuss the untapped potential of this type of housing to add to the supply of homes and address affordability.
The Economic Brief
What do current trends in the Canadian labour market tell us about what’s in store for the economy this year?
Is the Canadian economy at risk of running out of labour, which would lead to inflationary pressures and calls for a hike in interest rates? Senior Economist Andrew Grantham explains why labour shortages likely won’t become an economy-wide problem, and what that means for interest rates in 2026 and beyond.
CIBC Economics
18%
With women representing a sizeable share of the workforce, making full use of their potential is vital for Canada’s economy. As Senior Economist Katherine Judge discusses in her latest report, while there has been some improvement, there is still plenty of work ahead in addressing a well-known gap in earnings for mothers in the workforce.
In Focus
Canadian housing: Anatomy of a correction
This In Focus report analyzes the housing market correction underway in Canada. Given the importance of the housing market to the economy, the current weakness in activity along with falling prices have clear negative macroeconomic implications.
Economic Insights
Canadian labour market: Could we really run out of room before year-end?
This Economic Insights report discusses why we think there's enough slack within the Canadian labour market to prevent a Bank of Canada rate hike this year, even if growth within the economy and demand for labour improves as we forecast.
In Focus
Canada’s student immigration surge: Neither a curse, nor a blessing
In our latest In Focus article, Senior Economist Ali Jaffery examines the economic implications of Canada’s recent student immigration surge.
CIBC Economics
Bank of Canada interest rate: Not now, maybe later
The Bank of Canada chose not to provide fresh stimulus to the Canadian economy now, keeping the overnight rate steady at 2.75%, but did hint that rate cuts are still possible in the future to help navigate the current period of trade uncertainty.
Our commitment to ambitions
CIBC Ambitions Index 2026
Read about how Canadian ambitions are changing in this second edition of our annual index.
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