This week’s data flow is light, but includes reports on Canadian retail sales and inflation. Traders are certain to give the reports extra attention, with some observers now expressing doubts about the likelihood of another interest rate increase in December.

The retail numbers for September are due Monday. Economists are forecasting an overall increase of just 0.2% is likely for the month, following August’s 0.8% gain. Excluding autos, analysts are calling for a 0.4% increase.

On the inflation front, the report on the consumer price index for October is due Wednesday. Economists are calling for the headline reading in inflation to come in above 2%, thanks to rising energy prices.

The average forecast puts the overall annual rate of inflation for the month at 2.3%, up from September’s 1.8%.

Core inflation, however, is likely to remain relatively in check. Economists are calling for the core rate to hold steady at an annual rate of 1.5%.

The Bank of Canada’s target range for core inflation is 1% to 3%.

The bank, which has raised interest rates twice already this year, makes its next decision on December 7.

Since the release of September’s international trade figures, which showed exports fell 3.4%, there is greater uncertainty on whether the central bank will raise interest rates.

Also on Tuesday, Statistics Canada releases in composite index of leading indicators for October.

On Wednesday, Bank of Canada governor David Dodge appears before the senate committee on banking.

South of the border, the week will be shortened by the U.S. Thanksgiving holiday. Stock markets will be closed Thursday, and will close early on Friday.

As for economic data, the report on durable goods orders for October is due on Wednesday, as is the Michigan consumer sentiment index for November.

On the earnings calendar, Canada’s banks begin reporting fourth quarter results.

Bank of Montreal kicks off the bank earnings parade on Tuesday, followed by Toronto-Dominion Bank on Wednesday.

Bank of Nova Scotia, Royal Bank of Canada, CIBC, National Bank and Canadian Western Bank report the following week. Laurentian Bank of Canada reports one week later.

Other companies reporting financial results this week include George Weston.