TORONTO – Five things to watch for in the Canadian business world in the coming week:
Rate hike decisionA cooling economy is dampening expectations that the Bank of Canada will hike the overnight rate on Wednesday. Both September inflation and August retail sales came in below analysts’ expectations on Friday, suggesting the BoC will hold steady after raising rates twice in a row.
Weekly statsStatistics Canada releases the wholesale trade figures for August (Monday), data on immigration, ethnocultural diversity, housing and Aboriginal peoples (Wednesday), and data on payroll employment, earnings and hours for August (Thursday).
Stranzl to break his silenceBrandon Stranzl, former CEO of Sears Canada, will speak to media on Monday regarding the liquidation of Sears Canada’s remaining stores. Stranzl had led an unsuccessful push to buy the retailer and turn it around, and the company’s leadership faced harsh criticism from laid-off employees over the size of retention bonuses offered to executives to see the liquidation process through.
Let’s talk about something other than blind trusts, ok?After a week of bad headlines and intense criticism, federal Finance Minister Bill Morneau will deliver the fall economic update in the Commons on Tuesday. Morneau has been under fire since it was revealed that he had not placed his substantial personal holdings into a blind trust, a move he reversed on Friday, despite insisting the rules don’t require him to do so.
EarningspaloozaSome of Canada’s most well-known companies will release earnings next week, including West Fraser Timber Co. Ltd. (Monday); CN Rail (Tuesday); Air Canada, New Gold Inc, Barrick Gold, Suncor Energy Inc., Western Energy Services Corp. and Goldcorp Inc. (Wednesday); Agnico Eagle Mines Ltd., Maple Leaf Foods Inc., First Quantum Minerals, Shaw Communications Inc., Husky Energy and Eldorado Gold Corp. (Thursday); and Precision Drilling Corp. (Friday).