Interest rates will be in the spotlight this week as the Bank of Canada prepares to makes its next announcement on Tuesday.

Many observers expect the central bank to the target rate unchanged at 4.25%.

Also Tuesday, Canada Mortgage and Housing Corp. issues housing starts data for June.

Separately, Statistics Canada reports on its new housing price index for May.

On Wednesday, Statistics Canada issues data on Canadian international merchandise trade for May.

On Thursday, the Bank of Canada releases its Monetary Policy Report update.

On Friday, StatsCan releases its monthly survey of manufacturing for May.

South of the border

In the United States, the key data scheduled for release include the Conference Board’s consumer confidence index Monday,

On Wednesday, the U.S. Commerce Department releases trade balance data for May.

On Thursday, the U.S. Department of Labor reports on initial jobless claims the week ended July 8.

Also Thursday, the Bank of Japan is scheduled to begin a two-day rate-setting meeting and investors continue to wait for it to move away from its zero-interest rate policy.

On Friday, the U.S. Commerce Department reports on retail sales for June.

Separately, Commerce also issues U.S. business inventories data for May.

Also Friday, the University of Michigan releases its consumer sentiment index.

Corporate earnings

Meanwhile, second-quarter earnings season officially gets under way Monday with the release of results from Alcoa Inc., the world’s largest integrated aluminum producer.

Canadian companies scheduled to report earnings include Cogeco Cable Inc., CI Financial Inc., CHC Helicopter Corp., CHUM Ltd. and Nexen Inc.