TORONTO – Five things to watch in Canadian business this week:
Corporate Canada bites nails: The country’s business community will be on the edge of its seat Monday as Canadians go to the polls in Canada’s 42nd general election. Will it be a return to power for the business friendly Conservatives? Will the electorate opt to give the Liberals or the New Democrats a try? At least a few executives in Canada’s hard-hit oilpatch are nervous about the outcome.
Earnings-o-rama: A slew of Canadian companies report third-quarter earnings this week, including pharmaceutical giant Valeant, Celestica and Canadian Pacific Railway on Tuesday. On Thursday, Rogers Communications and Shaw Communications report, as well as Corus, Husky Energy and Teck Resources. And on Friday, Thomson Reuters and Postmedia will have their Q3 results.
StatCan status report: The federal agency has a number of releases next week, including wholesale trade figures on Tuesday, retail sales on Thursday and the critical consumer price index on Friday that reveals the country’s inflation rate. All are considered key indicators of the health of the Canadian economy.
Interest rate outlook: On Wednesday, the Bank of Canada issues its latest interest rate announcement and monetary policy report. The central bank is expected to hold the overnight rate steady at 0.5 per cent after cutting it twice this year, but economists will scrutinize the central bank’s updated outlook on the economy for any hints about what it may do next year.
Green oilpatch?: The Canadian Oil Sands Innovation Alliance provides an update on progress toward sharing green technologies among its members in Calgary on Wednesday. The oilpatch is facing pressure internationally to reduce its carbon footprint. And speaking of the oilpatch, the credit rating agency Standard and Poor’s has said the risk profile of six Canadian oil and gas producers is worsening because of the prolonged slump in crude oil prices.