In the upcoming week, Canadian business observers are keeping an eye on various key developments:
- Railway Earnings: Canadian National Railway Co. and Canadian Pacific Kansas City Ltd. will unveil their first-quarter financial results. Canadian National Railway Co. will disclose its results post-market closure on Tuesday, while Canadian Pacific Kansas City Ltd. will do so before market opening on Wednesday.
- Bank of Canada Decision: The Bank of Canada will present its summary of monetary policy discussions following its recent interest rate decision. While the key interest rate target remains unchanged at five percent, Governor Tiff Macklem hinted at the possibility of a rate cut in June.
- Metro Inc. Results: Grocery chain Metro Inc. is slated to announce its second-quarter results and engage in a conference call with financial analysts on Wednesday morning. These results come amid ongoing talks surrounding a potential grocery code of conduct, with increased scrutiny due to food inflation outpacing general cost-of-living increases.
- Retail Sales Data: Statistics Canada is scheduled to release retail sales figures for February. While January saw a 0.3 percent decline in retail sales to $67.0 billion, early estimates suggest a 0.1 percent uptick for February.
- Resource Sector Performance: Several major players in the Canadian resource sector are expected to disclose their quarterly results. First Quantum Minerals Ltd. will announce its results post-market closure on Tuesday, with a conference call scheduled for Wednesday. Teck Resources Ltd. is anticipated to report before markets open on Thursday, while Agnico Eagle Mines Ltd. is set to release its results after market closure on the same day. Imperial Oil Ltd. will unveil its results and engage in a conference call with financial analysts and investors on Friday morning.