Benjamin Tal is a managing director and deputy chief economist with CIBC Capital Markets Inc. He is responsible for analyzing economic developments and their implications for North American fixed income, equity, foreign exchange, and commodities markets. Mr. Tal also acts in an advisory capacity to bank officers on issues related to wealth management, household/corporate credit, and risk. Recently described as one of Canada's leading experts on the real estate market by the International Monetary Fund, he is a regular commentator on financial and economic trends in the Canadian and American print and electronic media. In addition to providing expert testimony on various economic issues in front of Canadian Parliamentary committees, Mr. Tal has represented Canada in NAFTA discussions with regards to the structure of the North American labour market. He has also led investment seminars on behalf of the Canadian Ministry of Foreign Affairs and leading institutional investors in major European cities. Mr. Tal is a member of the Economic Committee of The Canadian Chamber of Commerce and a board member of the Toronto Association for Business and Economics (TABE).