CIBC Chief Sees Canadian Economy on Cusp of Consumer-Led Rebound
- Vaccinations will ease constraints, unleash spending, he says
- Bank will continue to focus on tech as restrictions remain
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Canadian Imperial Bank of Commerce CEO Victor Dodig says the country’s consumers are poised to start spending again once coronavirus vaccines become more widely available.
Dodig, who leads the country’s fifth-largest lender by assets, says an accelerated vaccine campaign will allow Canada to ease pandemic restrictions as other countries have. That should spur consumers whose finances weren’t hit hard by the pandemic to spend some of the extra cash they have saved over the last year, he said.