TORONTO – Five things to watch in Canadian business this week:
Bank rate suspense: Will the Bank of Canada cut its benchmark rate again, hike it or hold steady? Amid glimmers of hope for the Canadian economy with some recent Statcan data on jobs and trade, the central bank announces its overnight rate on Wednesday. The bank has already cut the rate twice this year, from one per cent at the start of the year to 50 basis points after the latest cut in July.
Housing still hot? The Canada Mortgage and Housing Corp. is releasing its August figures on the state of Canada’s housing market, also on Wednesday. Toronto and Vancouver have had smoking-hot housing markets all year. Are there any signals they may start to cool?
Bank bigwigs: The Scotiabank Financials Summit begins Wednesday, featuring appearances by the CEOs of some of Canada’s biggest banks, including Victor Dodig of the CIBC and Dave McKay of the Royal Bank of Canada.
Energy confab: The 2015 Barclays CEO Energy-Power Conference starts in Calgary on Wednesday. Officials from some of the biggest companies in Alberta’s beleaguered oilpatch will be in attendance.
Earnings galore: An array of Canadian companies report their earnings next week, including Dollarama, Sobeys, Sun Financial, Hudson’s Bay and David’s Tea.