Canada's Business Leaders Gear Up for Crucial Week Ahead
Next week in Canada's business world will be marked by several significant events. On Monday, Alberta Premier Danielle Smith and Ontario Premier Doug Ford will hold an event in Calgary to discuss Canada's economic future, focusing on how the country builds, transports, and sells its energy. The premiers' discussion is expected to shed light on Canada's role in the global energy market.
On Tuesday, Statistics Canada will release its report on gross domestic product (GDP) for July. The preliminary estimate last month indicated that real GDP was essentially unchanged in July due to offsetting increases and decreases across various sectors, including a decline in retail trade and manufacturing.
Bank of Canada senior deputy governor Carolyn Rogers is scheduled to give a speech in Victoria on Thursday, where she will likely address the central bank's recent decision to keep its key interest rate at 2.25 per cent. Financial markets have raised the odds of a potential rate hike later this year, and Rogers' comments could provide insight into the Bank of Canada's future monetary policy.
Regional home sales results for September are expected to start coming out towards the end of the week, including numbers from Calgary and Vancouver. National home sales in August saw a 6.9 per cent decline compared to the same month last year.
On Friday, Ana Bailão, head of Build Canada Homes, the Crown corporation tasked with increasing affordable housing supply, will give a speech at the Empire Club in Toronto. The federal government has made affordable housing a priority, and Bailão's address may provide details on how Build Canada Homes is working to meet this goal.