Five Canadian business stories to watch this week

interest rate
interest rate

Bank conference

The RBC Capital Markets Bank CEO Conference kicks off in Toronto on Tuesday. The event will feature presentations from the CEOs of Canada’s five big banks, which earned a combined total of more than $11 billion in their latest quarter, up 14 per cent from a year ago.

Bank of Canada rate announcement

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The Bank of Canada will announce its latest decision on its key interest rate target on Wednesday and release its updated outlook for the economy in its monetary policy report. Economists will be listening for what governor Stephen Poloz says during the news conference that follows for insight into how he sees economy and future interest rate changes.

Lookahead for 2019

Chief economists from Canada’s big banks will share their annual economic outlooks at the Economic Club of Canada in Toronto on Wednesday. The latest jobs numbers from Statistics Canada on Friday showed that the unemployment rate stayed at its 43-year low of 5.6 per cent last month as the economy closed out 2018 with the addition of 9,300 net new jobs.

Housing starts

CMHC will release monthly housing starts for December on Wednesday. Housing starts for November beat analyst expectations, a signal that the country’s real estate market continues to show signs of stability.

Aphria results

Aphria Inc. will release its financial second-quarter results on Friday. The cannabis producer has dismissed an all-stock hostile takeover attempt by Ohio-based Green Growth Brands, saying the proposal “falls short of rewarding our shareholders for participating in such a transaction.”

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