Andrew Grantham of the Capital Markets of the Canadian Imperial Bank of Commerce believes that the growth of Canadian retail sales is at best scattered. Although overall sales in April increased by 0.7% month-on-month, the growth was slightly weaker and could only offset the previous month's decline. The estimate for May shows another significant drop in sales. Grantham expects households to continue to reduce spending until interest rates drop more meaningfully. Before the end of the year, the policy interest rate will be lowered three times, including a rate cut in July.
CIBC：在进一步降息之前，加拿大零售销售料将保持低迷
CIBC: Canadian retail sales expected to remain weak before further interest rate cuts.
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