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5 Things to Know Today — June 11, 2026

  The Bank of Canada confirmed its fifth straight rate hold yesterday, oil slipped back toward $89 a barrel after fresh U.S. strikes on Iran, and Canada Post workers officially have a new contract. Here is what every Canadian needs to know heading into Wednesday. 1 of 5 — Interest Rates Bank of Canada holds at 2.25% — for the fifth time in a row The Bank of Canada kept its benchmark interest rate unchanged at 2.25% on June 10, marking five consecutive holds since late 2025. Governor Tiff Macklem said the central bank is trying to balance two opposing forces: inflation pushed higher by elevated energy costs from the Middle East war, and an economy that has barely grown in recent quarters. "Economic weakness combined with rising inflation is a dilemma for monetary policy," Macklem told reporters, adding that holding the rate "balances those risks" for now. What it means for you: Variable-rate mortgage holders and borrowers with lines of credit get another month of pa...
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U.S. Urges Canada to Collaborate on Curbing Imports of Forced-Labour Goods from China

 

The U.S. State Department’s top human rights official, Uzra Zeya, has called for Canadian cooperation in addressing the importation of goods made from forced Uyghur and Tibetan labor in China. Zeya emphasized the need for joint efforts to combat this pressing issue.

Key Points:

  1. Uyghur Forced Labor Prevention Act: The U.S. has taken a strong stance against forced labor by passing the Uyghur Forced Labor Prevention Act. This law presumes that any goods from China’s northwestern region of Xinjiang are made using coerced labor of Muslim Uyghurs. Importers must demonstrate that products are not produced under forced servitude, or shipments from the region are blocked.

  2. Canada’s Commitment: Under the United States-Mexico-Canada Agreement (USMCA), Canada pledged to bar imports manufactured with forced labor. However, as of December 2023, Ottawa had not halted any shipments of such goods entering the country since the agreement took effect in July 2020.

  3. Collaboration and Accountability: Zeya highlighted the importance of collaboration between the U.S. and Canada to prevent forced-labor products from entering North America. She expressed readiness to share experiences and best practices to tackle this issue effectively.

  4. Global Impact: Democratic Senator Jeff Merkley raised concerns that Chinese companies have redirected goods made in Xinjiang to Canada and Europe following the U.S. ban. The Global Slavery Index estimates that over $18.5 billion worth of goods imported annually into Canada are at risk of being produced with forced labor.

As the international community grapples with this human rights challenge, joint efforts between the U.S. and Canada can play a crucial role in ensuring the integrity of supply chains and protecting vulnerable workers.



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