Here are five things you need to know this morning.
Locomotives sit idle at the Canadian Pacific Kansas City rail yard in Port Coquitlam, B.C., Monday, Aug. 19, 2024.Rail service set to resume:the federal government stepped in to try to end the labour dispute
. Labour Minister Steven Mackinnon has asked the Industrial Relations Board to impose binding arbitration on CN Rail, Canadian Pacific Kansas City and the Teamsters union. He also ordered the board to direct the parties to extend their current labour contract, and resume operations. Workers at CN say they will take down picket lines and go back to work today – but employees at Canadian Pacific plan to challenge the constitutionality of the government’s decision.
. Powell is expected to signal that it’s appropriate for the central bank to begin lowering interest rates soon – as well as possible clues about the magnitude and frequency of the reduction.Canadian retail sales likely rose last month after dropping in June. Receipts for retailers rose 0.6 per cent in July, only the second monthly sales gain this year, according to an advance estimate from Statistics Canada. That followed a 0.3 per cent decline the previous month, matching expectations.
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