MONDAY
OMERS, the pension fund for nearly 400,000 Ontario public-sector workers and retirees, will reveal how its investments performed in 2009. The report, which comes a week after the Caisse de dépôt et placement du Québec disclosed a disappointing 10 per cent return, will provide another indication of how much work still needs to be done to repair Canada's pension system after the crash of 2008. CEO Michael Nobrega will hold a new conference in Toronto.
TUESDAY
What a post-Olympic letdown. After 17 days in which they basked in the spotlight of the world, British Columbians turn their attention to a less-glorious subject: the provincial budget. Among the questions on the agenda: just how big will the province's deficit be, and what tax changes will Gordon Campbell's government make? It has already made two controversial moves on the tax side, going to a harmonized sales tax system and implementing a carbon tax that is set to rise this summer.
The Bank of Canada will make its interest rate policy announcement. Rates won't be going up, but economists will be parsing the central bank's words carefully for a hint as to when future increases will come.
Canadian and U.S. auto makers will report February sales
WEDNESDAY
Royal Bank of Canada, the country's largest bank and the best bellwether for the health of the Bay Street, reports first-quarter results. The bank will likely disclose another strong quarter of profits, but the analysts will be focused on a several key issues: loan losses, trading revenues, and the performance of RBC's large banking business in the U.S. Its official name is "Summary of Commentary on Current Economic Conditions by Federal Reserve District." But everyone calls it the Beige Book, and it's well-read for clues to the state of the U.S. economy.
THURSDAY
The focus moves to Ottawa, where Finance Minister Jim Flaherty will deliver his fifth budget to the reconvened Parliament. Last year's document, delivered in the depths of the global economic downturn, was all about spending and stimulus. This year's will take on a different hue: it will give the first solid indication of how the Harper government proposes to get Ottawa's books back into balance after a year of record-breaking deficits.
Economic indicators: U.S. jobless claims, factory orders and pending home sales; European GDP; Canadian building permits.
FRIDAY
For millions of unemployed Americans, the recession's not really over until they get a job. Friday's U.S. employment report will show how many did - and didn't - find work in February. The unemployment rate edged above 10 per cent late last year, then fell to 9.7 per cent in January. The rate for February might be impacted by the huge winter storms that blanketed parts of the U.S.