Economists expect the Bank of Canada to hold its benchmark interest rate steady for the fifth straight time when it meets Wednesday, but its messaging could shed light on how it is navigating ongoing geopolitical uncertainties. The central bank held its policy rate at 2.25 per cent when it last met in April. Bank of Canada governor Tiff Macklem at the time did not rule out future adjustments depending on how risks play out. He had said "monetary policy may need to be nimble" as the central [Read more]

TORONTO - Five things to watch for in the Canadian business world in the coming week: Energy conference The Global Energy Show is set to kick off in Calgary on Tuesday. Among the scheduled speakers are federal Natural Resources Minister Tim Hodgson, the premiers of Alberta, Saskatchewan and the Northwest Territories and the CEO of Abu Dhabi National Oil Co.'s upstream division. Trade figures Statistics Canada will release its international merchandise trade numbers for April on [Read more]

CALGARY - Trans Mountain Corp. says oil shipments through its pipelines reached 83 per cent of capacity in the first quarter and is expected to rise to 90 per cent in the second quarter. The Calgary-based company that operates the pipeline from Alberta to the British Columbia coast says about 737,000 barrels of crude oil passed through the pipeline per day in the three-month period starting this year. That is down from the 757,000 barrels per day reported in the same quarter last year, but [Read more]

CALGARY - Premiers, energy ministers, CEOs and a throng of international visitors are poised to descend on Calgary next week, when the annual Global Energy Show kicks off against a vastly different backdrop than the event last year. A year ago Alberta Premier Danielle Smith was just beginning to float the idea of a new West Coast oil pipeline, her government had yet to sign an energy accord with Ottawa setting out conditions for that plan and there was no war in the Middle East upending [Read more]

A new report says boosting economic relations with Indigenous partners and incorporating their world views in business decision-making can help position Canada for a more resilient economic future. The report, published Wednesday by Deloitte's Future of Canada Centre, explores how sovereign Indigenous economic partnerships are among Canada's most underleveraged growth opportunities. "As Canada grapples and comes to terms with a very challenging economic and global restructuring, Indigenous [Read more]

ST. JOHN'S - Oil production is ramping up off Newfoundland and Labrador and the government is offering money to companies interested in looking for more. Premier Tony Wakeham opened an annual energy conference in St. John's, N.L., by announcing a call for exploration bids on 16 areas off the province's east coast. He says his government will offer up to $30 million to offset the cost of a well drilled in an area aimed at opening up a new offshore oil frontier. The last time a company [Read more]

CALGARY - Alberta Premier Danielle Smith is planning to meet with her counterpart in Quebec City this week, with separatism and energy possible topics of discussion. Speaking at an unrelated news conference in Calgary, Smith was asked about her upcoming visit with Quebec Premier Christine Fréchette and expectations to talk about an east-west energy corridor. "I have told the previous premier every time I met with them that I talked to them about developing their own substantial natural gas [Read more]

OTTAWA - Canada's economy is still struggling to grow but some economists weighing in on the latest real gross domestic product results Friday argued that weakness may not qualify as a recession. StatCan reported Friday that the economy stalled in the first quarter of the year. While real GDP by expenditure was flat on a quarter-by-quarter basis, converting that to an annualized rate — the figure most economists pay close attention to — magnifies the quarterly changes and results in a [Read more]