Author archives

Are the official population growth forecasts too low? CIBC Deputy Economist, Benjamin Tal, shares his analysis.

Benjamin Tal, CIBC’s Deputy Chief Economist, joins Katherine Judge, CIBC Senior Economist, to discuss the deteriorating US economic backdrop, the trade landscape, and implications for the Fed and the Bank of Canada.

Time is not on Trump’s side. CIBC Economists examine the fragility of the US economy amidst rising tariff uncertainty in the latest In Focus report.

Utilizing the might of the US economy, President Trump appears to be squeezing the White House’s far reaching power to the last drop. In the Week Ahead report, Deputy Chief Economist, Benjamin Tal, makes a case for and against the president’s next steps.

Is the current trade dispute with the US a catalyst to diversify Canada’s trade away from its neighbor south of the border?

Our latest In Focus report, by Benjamin Tal, looks at the changing composition of the Canadian population.

We are more than 13 weeks since the first easing move by the Fed, and the 10-year rate is miles above its level back then. We haven’t seen such a trajectory in any of the previous cycles in recent history.

The tale of the Canadian housing market in 2025 is a tale of two markets - the low-rise segment and the high-rise segment, with unique market characteristics. However, as our economists forecast, the buyers’ market conditions will not last for long as a lack of supply will clash with increased demand due to lower interest rates and recent changes to mortgage regulations, resulting in higher price pressures.

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.

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.

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.