Skip to main content

Featured

Bank of Canada Rate Decision Tomorrow: What Every Canadian Needs to Know Before June 10

Current Rate 2.25% Held since Oct 2025 Expected Decision HOLD 34/34 economists Announcement 9:45 AM Wed, June 10 (ET) Prime Rate 4.45% Most major lenders On Wednesday morning, June 10, the Bank of Canada will announce its interest rate decision at 9:45 AM ET — and for Canadians with a mortgage, a variable-rate loan, or a renewal coming up, the decision is just two days away. Governor Tiff Macklem will follow with a press conference at 10:30 AM. The short answer: expect no change. But the full picture is considerably more complicated — and the Bank's tone tomorrow could signal whether rate hikes are quietly creeping back onto the table. The Consensus: A Hold, Full Stop The economist community is remarkably united heading into this decision. In a Reuters poll conducted June 2–5, all 34 economists surveyed predicted the Bank would leave its overnight rate at 2.25%. More than 80% said it would stay there for the rest of 2026. "Under normal circumstances, today's sagging econom...
Post a Comment
Read more

article

Labels

Yemeni Houthi Rebel Attacks on Ships in the Red Sea Disrupt Global Trade

 

The Yemeni Houthi rebel attacks on ships in the Red Sea have been causing significant disruptions to global trade. The Houthis, who are backed by Iran, have been targeting commercial ships in the region with drones and anti-ship missiles. 

The attacks have escalated since the start of the Israel-Hamas war in October 2023. The Red Sea is a crucial maritime artery for consumer goods and energy supplies, with 40% of Asia-Europe trade normally flowing through the area. The attacks have rerouted most of the trade normally flowing through the Red Sea, delaying shipments and raising transport costs. The impact of the attacks has been felt worldwide, with electric car maker Tesla announcing that it had to shut down its factory outside Berlin due to delays in supply chains.

In response to the growing impact on global trade, the United States and a host of other nations have created a new force to protect ships. The Biden administration has set up a 10-nation naval task force to protect ships traveling along this important route. Some of the world’s largest container shipping companies and oil giant BP have been sending vessels on longer journeys that bypass the Red Sea.


Labels:

Comments

Post a Comment