Bank of Canada: Canada’s central bank is expected to raise its benchmark interest rate by 0.75 percentage points to 3.25 percent at its policy meeting, according to economists polled by Refinitiv. Inflation eased in July, mainly due to falling gasoline prices. Despite the restraint, the national rate of inflation is far from the Bank of Canada’s 2% target, suggesting big rate hikes are on the horizon. In July, the Bank of Canada introduced a historic rate hike of 1 percentage point, the largest since 1998. Gamestop: Investors will focus on how the video game retailer has fared as the gaming industry faces headwinds. Hardware and software makers have endured weaker sales and engagement in recent months as gamers return to real-world pursuits in the wake of the easing of pandemic restrictions and restructure their spending to deal with the cost-of-living crisis. Gamestop’s second-quarter revenue is forecast to rise 7 percent to $1.3 billion, according to analysts polled by Refinitiv, although its loss is expected to widen to 52 cents a share, from a loss of 21 cents a year ago. US international trade: The US trade deficit is forecast to have narrowed from $79.6 billion in June to $70.3 billion in July, according to economists polled by Refinitiv. Fed Beige Book: The Federal Reserve will release its report on the economic conditions of the central bank’s 12 regions. Fedspeak: Federal Reserve Vice Chair Lael Brainard to speak on monetary policy at the annual conference of the Clearing House and Bank Policy Institute. Michael Barr, the central bank’s vice chairman for supervision, will speak about making the financial system fairer and safer at the Hutchins Center for Fiscal and Monetary Policy at the Brookings Institution. Loretta Mester and Thomas Barkin, presidents of the Fed’s Cleveland and Richmond branches, are also scheduled to speak at events. Other companies: retailer American Eagle Outfitters, software company Asana and restaurant and entertainment business Dave & Buster’s all report after the bell. Sportswear company Academy Sports and Outdoors will report before the bell. Canada’s trade balance: Canada’s trade balance is expected to widen from $5.05 billion in June to $3.8 billion in July, according to economists polled by Refinitiv.
