TORONTO — Five things to watch for in the Canadian business world in the coming week:
Rate announcement
The Bank of Canada will release its latest interest rate decision and monetary policy report on Wednesday. The central bank is widely expected to raise its key interest rate target as it continues its fight to bring inflation under control, but forecasters differ on how big of an increase it will be.
Shopify results
Shopify Inc. will release its third-quarter financial results before markets open on Thursday and hold a conference call with investors and analysts. The company, which reported a second-quarter loss of US$1.2 billion, laid off about 10 per cent of its staff earlier this year as the amount of shopping people carried out online fell short of its expectations.
Teck earnings
Teck Resources Ltd. will release its third-quarter results before markets open on Thursday and hold a conference call with investors and analysts. The miner said earlier this month that its third-quarter steelmaking coal sales totalled 5.6 million tonnes, within its revised guidance of 5.5 million to 5.9 million tonnes. Its realized steelmaking coal price in the quarter averaged US$304 per tonne.
GDP report
Statistics Canada will release its reading for real gross domestic product in August on Friday. The agency’s initial reading for the month released last month suggested real GDP was essentially unchanged in August as increases in retail and wholesale trade, as well as in agriculture, forestry, fishing, and hunting, were offset by decreases in manufacturing and oil and gas extraction.
Air Canada results
Air Canada is expected to release its third-quarter results and hold a conference call with investors and analysts on Friday. The airline recently announced new European routes and plans to resume select routes to Japan this summer, in an effort to expand international services.
This report by The Canadian Press was first published Oct. 23, 2022.
Companies in this story: (TSX:SHOP, TSX:TECK.B, TSX:AC)
