TORONTO – Five things to watch in the Canadian business world in the coming week:
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 control inflation, but forecasters differ on the magnitude of the increase.
Shopify Inc. will release its third quarter financial results before markets open Thursday and will hold a conference call with investors and analysts. The company, which posted a $1.2 billion loss in the second quarter, laid off about 10% of its staff earlier this year as the number of online purchases fell short of expectations.
Teck Resources Ltd. will release its third-quarter results before markets open Thursday and hold a conference call with investors and analysts. The miner said earlier this month that its third-quarter steelmaking coal sales were 5.6 million tonnes, within its revised guidance of 5.5 to 5.9 million tonnes. Its realized steelmaking coal price during the quarter averaged US$304 per tonne.
On Friday, Statistics Canada will release its reading of real gross domestic product in August. 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 agriculture, forestry, fishing and hunting, were offset by declines in manufacturing and oil and gas extraction. .
Air Canada Results
Air Canada is expected to release 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 some routes to Japan this summer, aiming to expand its international services.
This report from The Canadian Press was first published on October 23, 2022.
Companies in this story: (TSX:SHOP, TSX:TECK.B, TSX:AC)