Author archives

Benjamin Tal, CIBC’s Deputy Chief Economist, talks to the Hon. Lisa Raitt about his recent paper on why modular housing could be part of the solution when it comes to tackling the supply side issue of housing affordability.

Our latest In Focus article discusses the potential role of modular housing in easing the housing affordability issue in Canada.

The American labor market looked like it reached a breaking point, and then it didn’t. The September jobs report and the recent revisions to income and the saving rate have provided plenty of ammunition to the no landing camp. But don't get too caught up in one report. The economy does not move in a straight line.

Trade policy is now front and center in the US federal election, particularly for observers in Canada. Should he win, Donald Trump is promising a turn towards increased protectionism. Kamala Harris has come out against a broad increase in tariffs, but hasn’t been critical of the existing protectionism when it comes to China, and her record as a Senator shows a tilt towards tougher environmental standards in trade deals. A lot is at stake for Canada, but we see reasons to hope that we’ll steer clear of some of the darker scenarios out there.

Our latest In Focus report by Benjamin Tal and Shaun Hildebrant, President of Urbanation, take a closer look at the economics of condo investment in the GTA.

At the center of the efforts by the federal government to limit population growth is the newly introduced cap on international students and targeted decrease in the number of temporary residents to 5% of the population over the next three years.

Benjamin Tal, Deputy Chief Economist, CIBC and Katherine Judge, Senior Economist, CIBC discuss how labour market dynamics and inflation risks are impacting Bank of Canada policy.

Our latest issue of Economic Insights, by Benjamin Tal and Katherine Judge, looks at the current labour market mismatch in Canada, and its implications.

The Fed and the Bank are data dependent. But can you trust the data? Everything we do in economics depends on that data, which, in turn, is derived largely from surveys. And the response rates to those surveys are falling.

Benjamin Tal, Deputy Chief Economist at CIBC joins Avery Shenfeld to discuss Fed policy and where the US economy is heading, pointing to the fact that the current situation in the US is very similar to the soft landing of 1995.

The rise in insolvencies and mortgage delinquencies in Canada. CIBC Capital Markets’ Deputy Chief Economist, Benjamin Tal, joins Bipan Rai to discuss the risks to Canadian household consumer and mortgage credit, given the rate hikes from the Bank of Canada.

Bipan Rai and Benjamin Tal talk about the Canadian economy, the domestic housing market and why the number of non-permanent residents (“NPRs”) in Canada is actually higher than what’s reported officially. Please note that this podcast was recorded before the announcement from Statistics Canada that it will revise its methodology for estimating the number of NPRs in the economy.

Bipan Rai and Benjamin Tal, Deputy Chief Economist at CIBC Capital Markets, discuss the current state of affairs in the banking system and what it means for Fed and Bank of Canada policy.

Bipan is joined by CIBC Deputy Chief Economist Benjamin Tal to discuss the macro picture for the US and Canada – including the path for inflation going forward, what this means for rates/FX as well as the housing market.

Bipan is joined by CIBC Deputy Chief Economist Benjamin Tal for a discussion on the Canadian housing market and where things are headed in the coming years. We learn why this market isn’t in ‘bubble’ territory and what the implications for projected Bank of Canada rate hikes could mean.

CIBC Deputy Chief Economist Benjamin Tal joins Bipan on this edition to chat about several hot button topics affecting the US and Canadian economies