TORONTO – Five things to watch for in the Canadian business world in the coming week:
Home sales
Home sales numbers from some of the country’s largest cities are expected this week. The Real Estate Board of Greater Vancouver is expected to release August home sales figures on Tuesday, while the Toronto Regional Real Estate Board is set to release its numbers on Wednesday.
Rate decision
The Bank of Canada will announce its latest decision on interest rates on Wednesday followed by a speech by governor Tiff Macklem on Thursday. The central bank raised its key interest rate by a quarter of a percentage point to 5.00 per cent in July as it said it remained concerned progress toward returning inflation to its target of two per cent could stall.
Banking conference
Scotiabank will hold its annual investment conference focused on the financial sector starting on Wednesday. The two-day meeting will hear from executives from the country’s biggest banks which came under pressure from rising loan-loss provisions and an increased scrutiny on costs.
Job numbers
Statistics Canada will release its latest look at how the job market is performing. The agency will publish its labour force survey for August on Friday. The Canadian economy lost 6,400 jobs in July as the unemployment rate ticked up to 5.5 per cent compared with 5.4 per cent in June.
Consumer spending
BRP Inc. will release its quarterly financial results on Thursday. The Sea-Doo and Ski-Doo maker’s earnings will offer a glimpse into consumers’ willingness to spend on non-essential goods as interest rates rise and the economy slows.
This report by The Canadian Press was first published Sept. 3, 2023.
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