A pedestrian passes the Hudson's Bay store in downtown Calgary, Alta., Thursday, March 20, 2025. THE CANADIAN PRESS
This week brings several major developments in the Canadian business world. From political campaigns to economic reports, here are the top five events to keep an eye on.
Federal Election Campaign Heats Up
As the race for Canada’s next federal government intensifies, the leaders of the four main political parties will be on the campaign trail. One of the biggest topics of discussion is trade relations with the U.S. and how each party plans to navigate policies under President Donald Trump.
Recent polls indicate that the election will be a tough competition, with newly elected Liberal Leader Mark Carney and Conservative Leader Pierre Poilievre emerging as the top contenders. Trade policies, economic strategies, and their stance on international relations will be critical issues as Canadians decide their next leader.
Hudson’s Bay Begins Liquidation Sales
The end of an era is approaching for Hudson’s Bay, as the retailer starts its liquidation sales on Monday. After receiving court approval last week, the company will begin selling off inventory in most of its 80 locations, along with three Saks Fifth Avenue stores and 13 Saks Off 5th locations under its licensing agreement.
However, the company plans to keep six stores open, offering a slim chance of survival. For customers, this marks one of the last opportunities to shop at the iconic retailer before its widespread shutdown.
Bank of Canada Releases Interest Rate Deliberations
On Wednesday, the Bank of Canada will publish its summary of deliberations regarding its recent decision to cut the key interest rate by 0.25% to 2.75%.
Governor Tiff Macklem warned last week that uncertainty over U.S. tariffs is already impacting the economy. Many businesses have been delaying investments, fearing potential financial instability. The report will shed light on how the central bank weighed economic risks before making its decision.
BRP Reports Financial Results
BRP Inc., the manufacturer of Ski-Doo and Sea-Doo, will announce its fourth-quarter and full-year earnings on Wednesday. The company experienced a pandemic-driven boom, but demand for its snowmobiles and watercraft has since slowed.
Last year, BRP had to cut jobs to adjust to declining sales. Investors and analysts will be closely watching the financial report to gauge whether the company is stabilizing or if further challenges lie ahead.
Canada’s Economic Growth Report
On Friday, Statistics Canada will release its January GDP figures. Early estimates predict a 0.3% growth, driven by mining, oil and gas extraction, wholesale trade, and transportation. However, the report also highlights declines in retail trade, reflecting changing consumer spending habits.
This report will provide insight into the country’s economic health and may influence future monetary policy decisions.
What to Expect
This week will be packed with major financial and political developments that could shape Canada’s economic future. With an election campaign in full swing, interest rate updates, and liquidation sales at one of the country’s most historic retailers, all eyes will be on these key events.
