There are three important economic events to watch this week in Canada.
Scotia Banking Conference
Scotiabank, one of Canada’s big six banks, will hold its annual global banking and markets financials summit starting Wednesday. The meeting, which runs over the course of two days, will show insights by top executives of Canada’s big banks as to how they managed to beat financial expectations in the third quarter, but will exercise caution on the economic uncertainty ahead.
Housing Starts
A leading economic indicator, housing starts help project which direction a country’s economy is heading. In Canada, the Canada Mortgage and Housing Corporation will release preliminary housing starts figures for the month of August on Wednesday. With Macklem re-iterating his decision to uphold the key interest rate at 0.25%, the real estate rebound will likely continue.
Household Debt Snapshot
Statistics Canada will release on Friday its national balance sheet and financial flow accounts report for the second quarter. The report will include the much-anticipated household debt-to-income ratio from April-June, which saw the economy contract due to the lock down restrictions put in place by the government due to COVID 19.