5 things to watch for in the Canadian business world this week
A man watches the financial numbers at the TMX Group in Toronto's financial district, May 9, 2014. (Darren Calabrese / THE CANADIAN PRESS)
The Canadian Press
Published Sunday, January 17, 2016 11:20AM EST
TORONTO -- Here are five things to look for in Canadian business this week:
The markets: After one of the most tumultuous weeks on the markets in recent memory, what will this week bring? The Canadian dollar has been on a steep slide and oil continues to drop to levels not seen in more than a decade.
Interest rate announcement: All eyes will be on the Bank of Canada when it announces its trend-setting interest rate on Wednesday. Expectations have mounted in recent days that governor Stephen Poloz will cut the overnight rate by 25 basis points, which would drag it down to 0.25 per cent.
Trans Mountain pipeline hearing: On Tuesday, interveners in the Trans Mountain pipeline expansion project will begin presenting oral arguments before the National Energy Board. The hearing is scheduled to last nearly two weeks. The US$5.4-billion proposal to triple capacity from Edmonton to Burnaby, B.C., has stoked much controversy.
Canadian Pacific Railway earnings: Canadian Pacific Railway (TSX:CP) will release its fourth-quarter and year-end results Thursday. The Calgary company has been making waves recently after launching a bid to take over Norfolk Southern, but the Virginia-based railway has so far rebuffed the offer. A merger would create the largest railway in North America.
Inflation: The country's inflation rate in December, another important economic indicator, will be released Friday. Last month, Statistics Canada said the annual inflation rate rose to 1.4 per cent in November as the influence of the oil price plunge last year faded.