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Bank of Canada rate decision, corporate earnings and the Manitoba budget: What to watch this week

DavidsTea is among Canadian companies set to report earnings in the week ahead.

Tibor Kolley/The Globe and Mail

Five things to watch this week in Canadian business:

Charm offensive: Ontario Premier Kathleen Wynne heads to Illinois on Monday to meet with business leaders and Gov. Bruce Rauner to deliver a pro-trade message. The trip is Wynne's latest effort to shield her province from the rising tide of protectionism south of the border.

Oil talk: The annual Canadian Association of Petroleum Producers Scotiabank investment symposium runs from Tuesday to Wednesday in Toronto. Several topics will be discussed, including the future of the country's energy industry at a time when the U.S. ramps up production.

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Manitoba budget: On Tuesday, Manitoba's Progressive Conservative government delivers its spring budget. Expect an austere affair. Premier Brian Pallister has said all government programs are under review as he tries to erase the province's deficit, which was last estimated to be $872-million.

Bank of Canada announcement: The Bank of Canada releases its latest monetary policy report and interest rate on Wednesday. Governor Stephen Poloz has been taking stock of indications that the economy is strengthening, but he has stressed the importance of remaining cautious. Thus, there is little expectation he'll budge from the interest rate of 0.5 per cent.

The bottom line: It's a relatively light week on the corporate earnings front, but DavidsTea Inc., Shaw Communications Inc. and Dominion Diamond Corp. will be among the companies to keep an eye on. Dominion Diamond, which has mines in the Northwest Territories, recently rejected a takeover offer by the Washington Companies.

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