First Look With Surveillance: Bitcoin Losses, Work From Home
The Bank of Canada is expected to keep its key lending rate on hold at 0.25 per cent when it makes its latest interest rate announcement today at 10 a.m. ET. While no news conference is scheduled, observers will be watching closely to see what the central bank’s governor, Tiff Macklem, has to say about the economy after it unexpectedly shrank in the second quarter, while inflation hit a decade-high. Analysts are not expecting any further tapering of its quantitative easing program announced today and anticipate the central bank will stay the course with $2 billion in weekly asset purchases.
FRENCH DEBATE FACEOFF
The first of two official election debates will be held this evening. With less than two weeks before Election Day on Sept. 20, the five federal party leaders will face off in a bid to convince voters they’re the right choice to lead Canada’s next government. Tonight’s French debate kicks off at 8 p.m. ET.
U.S. FUTURES FLAT AMID GROWTH CONCERNS
U.S. futures are pointing to a flat open as investors reassess the pace of the economic recovery amid increasing COVID cases and last week’s weaker than expected American jobs report. Investors will get another snapshot of the U.S. economy today with the release of the Fed’s Beige Book at 2 p.m. ET.
OTHER NOTABLE STORIES
- BHP Group is partnering up with AI start-up, backed by Bill Gates and Jeff Bezos, to prospect for metals
- PayPal Holdings is paying US$2.7-billion to buy Paidy, a Japanese upstart “buy now, pay later” firm
- Coinbase Global has revealed in a company blog post that the U.S. Securities and Exchange Commission has threatened to sue the company if it moves forward with its “Lend” product, which would allow users to earn interest by lending crypto assets
- Notable earnings: Lululemon, GameStop
- 10:00: Bank of Canada releases interest rate decision
- 11:00: NDP to unveil Northern Ontario Platform
- 20:00: Federal leaders’ French-language debate
- Scotia two-day financials summit begins
- Porter Airlines resumes service