Five Canadian business stories to watch this week


Rate announcement

The Bank of Canada is scheduled to make its latest interest rate announcement on Wednesday. The central bank is widely expected to keep its key rate on hold at 0.25 per cent, however economists will be looking for any comments it has about its outlook for the economy. Bank of Canada deputy governor Tony Gravelle is to make a speech to the Greater Sudbury Chamber of Commerce the day after the rate announcement on Thursday.

Jobs report

Statistics Canada is expected to release its labour force survey for May on Friday. The report for April found the economy lost nearly two million jobs that month on top of the more than one million lost in March as the closure of non-essential services to slow the spread of COVID-19 forced businesses to shutter temporarily.

Canada Goose results

Luxury parka company Canada Goose Holdings Inc. will report its fourth-quarter and full-year results and hold a conference call with financial analysts on Wednesday. The company cut 125 staff in May in a move to address the impact of the pandemic. Canada Goose has been producing personal protective equipment for health-care workers across Canada.

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Saputo results

Dairy company Saputo Inc. will release its results for its 2020 financial year on Thursday. The company said in March that demand for dairy products at retail stores spiked amid the COVID-19 outbreak while orders from food-service operators all but disappeared, aside from quick-service restaurants that continued to serve takeout.

Trade data

Statistics Canada will release the international merchandise trade figures for April on Thursday. The country’s trade deficit grew to $1.4 billion in March as both exports and imports fell due to the COVID-19-related economic slowdown.

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