Five Canadian business stories to watch this week


More bank earnings

BMO Financial Group releases its fourth-quarter and year-end results on Tuesday and National Bank of Canada reports its results on Wednesday to wrap up the latest financial results from the country’s biggest banks. The results so far have been mixed as Royal Bank and TD Bank topped expectations, while CIBC and Scotiabank both fell just short of forecasts.

HBC earnings

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Hudson’s Bay Co. will announce its third-quarter results and hold a conference call with financial analysts on Wednesday. Last week, activist investor Land and Buildings Investment Management urged HBC to sell assets including Saks Fifth Avenue, its remaining 50 per cent interest in its European business and Lord and Taylor.

Rate announcement

The Bank of Canada will make its announcement on interest rates on Wednesday. Economists are expecting the central bank to keep its key interest rate target on hold at 1.75, but they will be looking for hints about future changes in the accompanying statement. Bank of Canada governor Stephen Poloz is also set to give a speech in Toronto on Thursday.

Dollarama update

Dollarama will release its third-quarter results and hold a conference call with analysts on Thursday. The Montreal-based retailer’s shares posted their biggest one-day decline of 2018 on Sept. 13 after weaker-than-expected second-quarter results and a reluctance to raise prices due to competitive pressures.

Jobs report

Statistics Canada is set to release its labour force survey for November on Friday. The October report showed the economy added 11,200 jobs that month as the unemployment rate moved down to 5.8 per cent.

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