TORONTO – Here are five things to look for in Canadian business this week:
Electric cars: On Monday in Halifax, Canadian experts on what’s known as transportation electrification kick off a three-day gathering. They’re meeting to discuss the latest technology and trends and to share ideas on how to boost the number of electric vehicles in Canada.
Energy: Canada 2020 hosts a panel discussion on global energy in Ottawa on Monday. Speakers will include the former special energy adviser to Hillary Clinton when she was U.S. secretary of state. The State Department will make the ultimate decision on the fate of TransCanada’s Keystone XL pipeline, so the project is sure to be a topic of discussion.
Big banks: Canada’s Big Five banks report their second-quarter results this week, starting Wednesday with the Bank of Montreal. That’s followed by earnings from the CIBC, the Royal Bank and TD on Thursday. The week wraps up with Scotiabank reporting on Friday.
Rate announcement: Bank of Canada governor Stephen Poloz is widely expected to stand pat on his key interest rate Wednesday, but the tone of the central bank’s statement will be scrutinized for any signs about the timing of future changes.
Economic growth: Statistics Canada is scheduled to release its reading on first-quarter economic growth on Friday. Economists are predicting the economy grew at an annual pace of 0.1 per cent for the first three months of the year. The first quarter is expected to be the low point for the year, but just how quickly the economy will pick up is in question.