Here’s what to look for this week:
The contracts between Unifor and the three big U.S. automakers are set to expire on Monday at 11:59 p.m. The union is negotiating with Ford Motor Co. in hopes of reaching an agreement that can be used as a blueprint for workers at General Motors and Stellantis.
The World Petroleum Congress started in Calgary on Sunday, bringing together leaders in the oil and gas industry from around the world. The congress, which occurs every three years, is taking place at a time when the issue of global energy security remains heightened in the wake of Russia’s invasion of Ukraine. Oil prices topped US$90 a barrel last week for the first time since November last year. But the executives meeting in Calgary are also gathering after what scientists say was the hottest summer on record — a summer marred by climate change-fuelled wildfires and floods around the world.
Federal politicians head back to Ottawa as the House of Commons resumes sitting on Monday. The return comes as the federal government demands the country’s major grocers come up with a plan to help stabilize prices as Canadians continue to struggle with inflation.
Statistics Canada will release its latest reading on inflation on Tuesday when it publishes its consumer price index for August. Inflation has come off the highs of last year, but the annual inflation rate rose to 3.3% in July compared with 2.8% in June.
Bank of Canada
Bank of Canada deputy governor Sharon Kozicki will give a speech in Regina on Tuesday on how household differences have affected monetary policy since the onset of the Covid-19 pandemic. The central bank will also release on Wednesday its summary of monetary policy deliberations by the governing council for its recent interest rate decision.