TORONTO – Five things to watch this week in Canadian business:
Mortgage changes: Come Monday, all insured mortgages will have to undergo stress tests to determine whether borrowers would still be able to make their mortgage payments should circumstances change, such as a job loss or a hike to interest rates. The measure is one of several being introduced by the federal government in an effort to stabilize the housing market.
Fortis rings the bell: Fortis, the utility based in St. John’s, N.L., will ring the opening bell on the New York Stock Exchange on Tuesday. The company began trading on the NYSE last week and has been buoyed by its recent US$11.3-billion acquisition of ITC Holdings.
CETA vote: European Union trade ministers are scheduled to vote Tuesday on whether to approve the Comprehensive Economic and Trade Agreement, the trade deal between Canada and the EU known as CETA. The deal was put into flux, however, after the legislature for Belgium’s Wallonia region rejected it last week.
Bank of Canada fiscal outlook: The Bank of Canada will release its latest monetary fiscal outlook and make its interest rate announcement Wednesday. While there is little expectation of changes to the key lending rate, observers will be scrutinizing the central bank’s forecast for any signs that the economy is bouncing back as the end of the calendar year draws near.
Grain transportation: Federal Transport Minister Marc Garneau meets with farmers Thursday in Saskatoon to discuss rail transportation of grain. Many farmers are frustrated, accusing Ottawa of not listening to their concerns that there could be a rail bottleneck this year because of an anticipated bumper crop.