TORONTO — Five things to watch for in the Canadian business world in the coming week:
Bank of Canada
The Bank of Canada will make its interest rate announcement on Wednesday and release its monetary policy report, which will include its updated forecast for the economy. It is widely expected by economists that the central bank will raise its key policy rate by three-quarters of a percentage point in an effort to slow down inflation.
Suncor presentation
Suncor Energy Inc. will provide an update on its oilsands operations on Wednesday. The company faced criticism earlier this year from U.S.-based activist investor Elliott Investment Management, which has a record of targeting large corporations it views as underperformers.
Cogeco results
Cogeco Inc. and Cogeco Communications Inc. to report their third-quarter results after the close of financial markets on Wednesday and hold a conference call with analysts on Thursday morning. Cogeco Inc. reported its net profit rose nearly eight per cent in its second quarter on a boost in revenues.
Other economic news
Statistics Canada will release its monthly survey of manufacturing for May on Thursday followed by its figures for wholesale trade on Friday. The data comes after the agency released a preliminary estimate last month that indicated gross domestic product contracted in May.
Home sales
The Canadian Real Estate Association is expected to release home sales figures for June on Friday. Home sales in May were down nearly 22 per cent compared with a year earlier.
This report by The Canadian Press was first published July 10, 2022.
Companies in this story: (TSX:SU, TSX:CCA, TSX:CGO)
