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5 Things to Know Today — June 21, 2026

  Whether you're starting your week or wrapping up your weekend, here are the five Canadian money stories shaping your financial picture right now. 1 Canada Is Technically in a Recession — And the Political Fight Is On Canada's GDP contracted 0.1% on an annualized basis in Q1 2026, following a 1% decline in Q4 2025 — two consecutive quarters of negative growth that meet the textbook definition of a technical recession. Prime Minister Mark Carney has called it a "settling-in period" tied to his government's restructuring of the economy in response to the U.S. trade war. Conservative Leader Pierre Poilievre has been relentless in his counter-offensive, pointing to rising insolvencies, job losses and food bank usage as proof that the downturn is real, not technical. Many economists, including BMO's chief economist Douglas Porter, have noted that a future revision to Statistics Canada's data could erase the slim 0.1% contraction — meaning this may not ultimate...
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Health Canada authorizes updated Pfizer-BioNTech COVID vaccine


Health Canada has authorized Pfizer-BioNTech’s updated COVID-19 vaccine for people six months and older.

The mRNA vaccine targets the Omicron XBB.1.5 subvariant that is circulating in Canada.

This is the second vaccine targeting XBB.1.5 that will be available in this country.

Earlier this month, Health Canada authorized Moderna's updated mRNA vaccine.

Both Pfizer and Moderna's shots are one-dose vaccines for people five years of age and older.

Three shots of the Pfizer vaccine is recommended for children between six months and four years of age who have not received their primary series of a COVID-19 vaccine.

Health Canada says it is currently reviewing an updated non-mRNA vaccine from Novavax.

Novavax’s vaccine has been submitted for consideration for people age 12 years and older.

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