More bank responses to the FOMC July meeting Minutes
I had BNP here: September ... Fuggedaboudit says BNP
From CIBC:... they note how undecided the Minutes left them ... the debate "had an on the one hand, on the other hand flavor". They're not wrong there.
- They say the Federal Reserve "couldn't be THAT hawkish in July, or they would have raised rates then and there
- But the minutes of that meeting certainly were in line with a central bank that was nearing an inflection point"
On balance, CIBC still calling September.