Five things to watch for in the Canadian business world this week
The Bank of Canada is shown in Ottawa on Wednesday, April 24, 2019. THE CANADIAN PRESS/Sean Kilpatrick
TORONTO -- Five things to watch for in the Canadian business world in the coming week:
An official from the British High Commission in Ottawa will give an update on Brexit and discuss the implications for Canada in Calgary on Monday. Experts told The Canadian Press in November that a post-Brexit United Kingdom will present Canadian business with tremendous uncertainty over billions of dollars worth of trade and investments, as the U.K. represents one of Canada's top five destinations for investments and top 10 markets for goods and services.
Interest rate decision
The Bank of Canada will make its interest rate announcement and release its monetary policy report on Wednesday. Positive December employment numbers from Statistics Canada have helped convince economists that the central bank will continue to keep its key interest rate on hold at 1.75 per cent, where it has been for more than a year.
Rogers Communications will hold its fourth-quarter conference call on Wednesday. Federal Industry Minister Navdeep Bains said last week that expected cuts to wireless rates by mobile-phone service providers must be in addition to price reductions already seen since 2016, a position described by an industry organization as "confusing."
Statistics Canada will release its consumer price index for December on Wednesday. The agency's previous report stated that inflation rose 2.2 per cent in November compared with a year ago to end a three-month streak where the annual pace of inflation had held steady at 1.9 per cent.
Statistics Canada will release its fourth-quarter "StatsCannabis" crowdsourced cannabis prices on Thursday. The agency previously reported that the average cost of a gram of cannabis fell 6.4 per cent to $7.37 in the third quarter as the legal price fell for the first time, although illicit weed continued to be significantly cheaper.
This report by The Canadian Press was first published Jan. 19, 2020.