Bank of Canada Governor Tiff Macklem in a news conference following an interest rate announcement, Wednesday, April 10, 2024 in Ottawa. The Bank of Canada will release its latest interest rate decision and updated economic forecasts on Wednesday. THE CANADIAN PRESS/Adrian Wyld
TORONTO— Here are five key events to look out for in the Canadian business world this week:
Railway Earnings
Canada's two largest railways are set to release their third-quarter financial results. Canadian National Railway Co. will report after markets close on Tuesday, followed by Canadian Pacific Kansas City Ltd. on Wednesday, also after the close of markets.
Interest Rate Decision
The Bank of Canada will announce its latest interest rate decision on Wednesday, along with updated economic forecasts. Economists are expecting the central bank to lower its key interest rate, but how much remains to be seen, especially after the annual inflation rate dropped to 1.6% in September.
Rogers Communications Earnings
Rogers Communications Inc. is scheduled to release its quarterly results before markets open on Thursday. In September, the company revealed a major deal to acquire Bell's 37.5% stake in Maple Leaf Sports & Entertainment for C$4.7 billion, giving Rogers a 75% controlling interest in the sports organization.
Teck Resources Results
Teck Resources Ltd. will report its third-quarter results on Thursday, prior to market opening. Earlier this year, Teck sold its remaining interest in Elk Valley Resources, a steelmaking coal business, to Glencore. The move is part of Teck’s strategy to focus more on metals like copper, which are essential for the global shift to renewable energy.
Retail Trade Figures
On Friday, Statistics Canada will release retail trade data for August. In July, retail sales saw a 0.9% increase, reaching $66.4 billion. An advance estimate for August suggested a 0.5% rise.
