Five Canadian business stories to watch this week

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Auto talks target

Unifor national president Jerry Dias will announce Tuesday which Detroit Three automaker will be selected to establish the pattern bargaining agreement, which is traditionally used as a template for deals with the other companies. The union has set a Sept. 21 strike deadline to reach a deal.

Banking conference

Scotiabank hosts its annual global banking and markets financials summit starting on Wednesday. The two-day meeting is expected to hear from the chief executives of Canada’s big banks following a third quarter that saw them largely top expectations, but warn that much economic uncertainty lies ahead.

Bank of Canada rate decision

The Bank of Canada is widely expected to keep its key interest rate target on hold when it makes its rate announcement on Wednesday. The rate decision will be followed by a speech by governor Tiff Macklem on Thursday, when he is also expected to hold a news conference with journalists.

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Housing starts

Canada Mortgage and Housing Corp. will release its preliminary housing starts figures for August on Wednesday. Sky-high lumber prices have driven up the cost of building a new home, while the real estate market has been hot as low mortgage rates have helped spur a rebound since coming to a near halt in the spring.

Household debt snapshot

Statistics Canada will release Friday its national balance sheet and financial flow accounts report for the second quarter. The report will include the much-watched household debt-to-income ratio for the April-to-June period which saw the economy crash due to restrictions put in place to slow the spread of the COVID-19 pandemic.

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