Jack Lessel CIM, RIS - CIBC Wood Gundy

09/03/2026

At its September meeting, the Bank of Canada (BoC) held its benchmark overnight interest rate steady. Inflation remains elevated and above target.

However, inflationary pressures still appear to be largely contained to energy prices, and have not spilled over to other products, as evidenced by core inflation near the BoC’s 2% target. But the BoC did acknowledge that global developments have raised the upside risks to inflation. Here’s more from yesterday’s interest rate decision.

09/02/2026

S&P Global reported that Canada’s manufacturing sector expanded for a fifth straight month in August, albeit at a slightly slower pace than in July. Canada’s manufacturing sector has improved in 2026 compared to 2025, suggesting manufacturers and businesses have adapted to trade disruptions with the US.

However, the outlook is now clouded after fresh Canada-US trade tensions reemerged in late August.

09/01/2026

Last Friday, Statistics Canada reported that Canada’s gross domestic product grew at a relatively sharp pace over the second quarter of 2026. In fact, it was the fastest pace of growth since early 2023 and well above the Bank of Canada’s (BoC) own forecast.

Despite the sharp improvement in the second quarter, trade tensions with the US flared up again in August, raising uncertainty towards the outlook for Canada’s economy over the remainder of 2026.

08/31/2026

The end of August turned out to be eventful after trade negotiations between Canada and the US fell apart, which resulted in the US imposing tariffs on Canada, and Canada saying it will also impose new tariffs on the US beginning on September 8.

This week will have several key economic announcements in Canada, which will garner attention from the investor community. Here’s what to watch for this week.

08/28/2026

Did you know economic and market performance can impact all aspects of your wealth plan from cash flow management to your investment strategy?

In the latest Weekly Market Roundup, our partners at CIBC Global Asset Management discuss recent economic data and how the markets reacted this week. If you’d like to discuss this commentary or have questions about your investment portfolio, please get in touch with your advisor or contact us to find an advisor in your area.

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Economic data Getting into a fight with a partner can get very nasty very fast as both parties know exactly what to say and what to do to make it hurt. Unfortunately, we got a taste of it this week after the unsuccessful attempt from Canada and the US to reach a new trade agreement.

08/28/2026

Statistics Canada released its Survey of Employment, Payrolls and Hours yesterday, providing a snapshot of Canada’s labour market in June. It found wage growth held steady even as hiring slowed, which could be a sign of a labour market gradually rebalancing.

08/27/2026

The US Bureau of Economic Analysis (BEA) released two closely watched reports, and together they may shift the outlook for the US Federal Reserve Board’s (Fed’s) next interest rate decision.

July’s inflation figures came in where economists expected, monthly consumer spending paused and a revised look at second-quarter 2026 growth showed the US economy is holding up a little better than the headline number suggests.

08/26/2026

Just days after trade talks between Canada and the US collapsed, Ottawa answered back yesterday with retaliatory tariffs. Canada announced, effective September 8, that it will apply 15%, 25% and 50% counter-tariffs on more than 700 US products, a dollar-for-dollar response to the 50% US duties that took effect last Saturday.

08/25/2026

What looked like a done trade deal days ago has unravelled. Trade talks between Canada and the US collapsed late Friday night, and new 50% U.S. tariffs on roughly US$20 billion (C$28 billion) of Canadian goods took effect at midnight on Saturday, August 22.

Canadian Prime Minister Mark Carney called the outcome “a miscalculation,” while US Trade Representative Jamieson Greer blamed Canada for introducing last-minute demands.

08/24/2026

Last week, Canadian and US trade negotiators worked towards a trade deal. However, talks fell apart at the last minute, resulting in the US imposing 50% tariffs on C$28 billion of Canadian imports beginning on Saturday. Canada pledged to impose retaliatory tariffs. Looking at the week ahead, investors will get a glimpse of the overall health of Canada’s economy when its gross domestic product is announced.

Data is pointing to the Canadian economy having expanded in the second quarter of 2026. There will also be several critical economic announcements globally for investors to monitor, along with any updates on tensions in the Middle East.