Toronto, Jan 18, 2026, 16:01 EST — The market has closed.
- RBC shares in Toronto ended Friday at C$235.42, edging up 0.03%.
- Canada will release its December CPI report Monday, with the Bank of Canada set to announce its next rate decision on Jan. 28.
- RBC will pay its next quarterly dividend on Feb. 24, with earnings to be announced two days later, on Feb. 26.
Shares of Royal Bank of Canada ended Friday at C$235.42, rising 8 cents. The stock remains roughly 2% shy of its 52-week peak ahead of a data-packed week for Canada. Trading ranged from C$233.96 to C$237.02, with around 3.4 million shares exchanging hands. (Tmx)
That’s key since RBC, much like its rivals, moves in line with rate expectations. Inflation and central-bank cues directly affect loan growth and net interest margins — the gap between what banks earn on loans and what they pay for funding.
RBC’s U.S.-listed shares closed Friday in New York at $169.18, slipping 0.09%. They won’t see any action Monday as the NYSE shuts for Martin Luther King Jr. Day, putting the spotlight on Toronto to lead the early moves. (Tmx)
RBC’s decision followed a rally that pushed Canada’s main stock index to a fresh high on Friday, driven by gains in energy and industrial sectors. Angelo Kourkafas, senior global investment strategist at Edward Jones, emphasized the spotlight on fundamentals, highlighting earnings reports and anticipated U.S. rate cuts as key drivers. (Reuters)
Canadian banks closed unevenly. Toronto-Dominion Bank slipped 0.12%, Scotiabank held steady, and CIBC rose 0.37%. (Tmx)
Macro cross-currents remained intense. The Canadian dollar dropped to a six-week low on Friday, with the 10-year Canadian yield climbing 2.2 basis points, while oil prices ended higher. Scotiabank’s Shaun Osborne noted the U.S. dollar “picked up” amid renewed talk about the Fed chair. (Reuters)
Statistics Canada will drop the December consumer price index and its annual CPI review on Monday, a key moment for Canadian rate forecasts. (Statistics Canada)
Economists are bracing for a potentially messy inflation print. A Reuters survey, referenced by CityNews, put December inflation at 2.2%. Meanwhile, RBC’s assistant chief economist Nathan Janzen pointed to an 8% plunge in gasoline prices, suggesting it might counterbalance persistent food inflation. BMO’s Benjamin Reitzes expects inflation to creep up to 2.3% and said it’s “unlikely” the report will push the central bank off the sidelines. (CityNews Calgary)
Looking past the CPI, the Bank of Canada plans to announce its next policy rate decision on Wednesday, Jan. 28, accompanied by the release of the Monetary Policy Report. Earlier, on Monday, Jan. 19, the BoC will roll out its quarterly business and consumer surveys. (Bank of Canada)
Investors are eyeing dividend timing closely. RBC’s board announced a quarterly common share dividend of $1.64 per share, set for payment on or after Feb. 24 to shareholders recorded by Jan. 26. The stock usually goes ex-dividend just before the record date. (RBC)
In U.S. filings, the bank detailed a new series of redeemable fixed-rate notes maturing in January 2033, with a 4.50% coupon and callable from 2028. These securities are “bail-inable,” allowing regulators to convert them into common shares during a resolution, and they won’t be traded on any exchange.
RBC Global Asset Management announced it will issue cash distributions in January 2026 for several RBC ETFs, covering bond and dividend-linked products. The firm noted it operates as an indirect wholly owned subsidiary of the bank. (RBC Global Asset Management)
In the short term, RBC’s stock hinges on rates and credit conditions. A hotter CPI or tougher Bank of Canada stance might push yields higher and weigh on bank multiples. On the other hand, weaker growth could spark concerns over loan demand. Investors will get their next look with RBC’s Q1 earnings due Feb. 26 at 8:30 a.m. ET. (RBC)
