Toronto — Key Highlights in Canadian Business for the Upcoming Week
As we look ahead, here are five important topics to keep an eye on in the Canadian business landscape:
1. Inflation Update
On Monday, Statistics Canada will share its latest report on inflation, releasing the consumer price index for November. Last month, the annual inflation rate dipped to 2.2% primarily due to a drop in gasoline prices.
2. Home Sales Figures
Also on Monday, the Canadian Real Estate Association will unveil home sales data for November. Sales in October were lower than last year, alongside a decline in prices. However, it’s worth noting that there was a month-over-month increase in sales, marking the sixth rise in the past seven months.
3. Speech by Tiff Macklem
On Tuesday, Bank of Canada Governor Tiff Macklem will address the Chamber of Commerce in Metropolitan Montreal. Earlier this month, the central bank decided to maintain its key interest rate at 2.25%, believing it to be the right level for keeping inflation close to its 2% target while aiding the economy through ongoing adjustments.
4. Transat’s Financial Results
Travel company Transat AT is set to publish its fourth-quarter and annual results on Thursday. The company recently reached a tentative agreement with its pilots to avoid a strike during the busy holiday season. However, Transat still faces pressure from media magnate Pierre Karl Péladeau, its second-largest shareholder, who is pushing for significant changes in its strategy and board composition.
5. Retail Sales Data
Finally, Statistics Canada will release retail sales figures for October on Friday. An earlier estimate suggested that sales remained largely stable in October, following a 0.7% decline in September, bringing sales down to $69.8 billion.
Stay tuned for updates as these events unfold in the Canadian business sphere.
