TORONTO — Five things to watch for in the Canadian business world in the coming week:
Macklem fireside chat
Bank of Canada governor Tiff Macklem will participate in a fireside chat hosted by the Business Council of British Columbia in Vancouver on Monday. The central bank raised its key interest rate target by half a percentage point last week to 4.25 per cent, its highest level since 2008. The increase helped push up the cost of borrowing for Canadians as the big banks followed by raising their benchmark prime rates.
Household debt figures
Statistics Canada will release Monday its third-quarter figures for national balance sheet and financial flow accounts, including its measure of household debt to income. Household debt has been identified as a key risk to the Canadian economy by many economists.
Rogers-Shaw hearing
The Competition Tribunal hearing reviewing Roger Communications Inc.'s proposed takeover of Shaw Communications Inc. is expected to hear closing arguments on Tuesday and Wednesday. The Competition Bureau is seeking to block the deal due to its concerns the merger would lessen competition in the telecom market, trigger higher prices and lead to poor service.
Economic data
The picture of how the Canadian economy fared at the start of the fourth quarter will become a little clearer this week with the release of a pair of data points. Statistics Canada will release its monthly survey of manufacturing for October on Wednesday followed by wholesale trade figures for October on Friday.
Home sales
The Canadian Real Estate Association is expected to release its home sales figures for November on Thursday. Home sales in Canada have been cooling this year and prices have been falling as higher interest rates have increased the cost of mortgages for borrowers.
This report by The Canadian Press was first published Dec. 11, 2022.
Companies in this story: (TSX:RCI.B, TSX:SJR.B)
The Canadian Press
