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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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Israeli Response to Latest Ceasefire Proposal Deemed Negative

In a recent development, a senior Hamas official revealed that Israel’s response to the group’s latest Gaza ceasefire proposal was negative. The proposal, handed over by mediators, failed to meet the demands set forth by Hamas.

Summary of Events: 

  • On Tuesday evening, the mediators informed Hamas of Israel’s position on the proposal. According to Osama Hamdan, the Israeli response was “generally negative” and did not address the critical issues at hand.
  • Hamas holds Israeli Prime Minister Benjamin Netanyahu and his government accountable for the failure to negotiate a hostage release in exchange for Palestinian prisoners and to halt the ongoing conflict in Gaza.
  • Despite weeks of negotiations, a comprehensive agreement between Israel and Hamas remains elusive. Talks have resumed this week in Qatar, but the humanitarian crisis in Gaza continues to escalate.
  • Over the past week, more than 100 aid workers have lost their lives, and dozens have been wounded in eight attacks carried out by Israeli forces.
  • As the situation remains tense, international attention remains focused on finding a resolution. The hope is that renewed dialogue will pave the way for a lasting ceasefire and alleviate the suffering of civilians caught in the crossfire.

Stay tuned for further updates as the situation unfolds.


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