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Canadian Imperial Bank of Commerce (CM)

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  • Reuters

    CIBC CEO says Canada should pursue policies that tame inflation in upcoming budget

    Canadian Imperial Bank of commerce CEO Victor Dodig said on Thursday the Canadian government risks reigniting inflation with spending measures aimed at fixing an acute housing crisis. Prime Minister Justin Trudeau has announced measures, including a C$6 billion Canada Housing Infrastructure Fund to accelerate the construction and upgrading of housing, to deal with housing shortages that have dented his Liberal government's popularity. He said Ottawa should focus on reducing inflation at a time consumers are already slashing spending on food and other basic expenses.