Investing.com
Published Oct 24, 2022 09:47
By Ketki Saxena
Investing.com -- It’s set to be a major week in both Canadian economics with three pieces of major economic data due, as well as on Bay Street, as Canadians earnings season kicks off for the third quarter. In Canadian economics, investors will be watching for a trifecta of major data and news instrumental to determining the health of the domestic economy: the Bank of Canada’s interest rate hike, a jobs report, and GDP data.
On Wednesday, the Bank of Canada is set to make its monetary policy announcements and announce an interest rate hike, which has a direct affect on the growth or slowdown of the economy. Markets widely expect a 75 bps hike from the Canadian central bank, although some economists are calling for a smaller 50 bp move.
On Thursday, investors will be watching for August’s survey of Employment, Payrolls and Hours - Canada’s jobs report, to gain an insight into Canada’s still tight but noticeably slowing labour market. The health of the labour market is also a key indicator the Bank of Canada looks at to guide its policy decisions.
On Friday, Canadian investors will look to August GDP, which is expected to slow further as the BoC’s rate hikes makes their impact felt on the economy.
On the corporate site, it’s also set to be a major week on Bay Street as Canadian earnings season kicks off. This week we’ll see earnings from some of Canada’s biggest companies and most popular stocks, including Shopify (TSX:SHOP), Air Canada, Canadian National Railway (TSX:CNR), Canadian Pacific, Cogeco (TSX:CGO), Crescent Point, Precision Drilling and more.
Monday, October 24
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Thursday, October 27
Friday, October 28
Written By: Investing.com
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