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5 Things to Know Today: BoC Decision Looms, TSX Sits Near Record Highs

  Saturday, July 11, 2026 Here's what Canadians need to know heading into the week, as markets brace for the Bank of Canada's rate decision and the CUSMA trade file keeps grinding along. 1. The Bank of Canada decides Wednesday, and a hold is all but locked in The Bank of Canada's next rate announcement lands July 15, and virtually every economist on Bay Street expects the overnight rate to stay parked at 2.25% — what would be a sixth straight pause. A stronger-than-expected June jobs report has taken away any urgency to cut, while cooling inflation and lingering trade uncertainty argue against a hike. Expect the accompanying statement to lean on familiar language: steady as she goes. 2. June's jobs report beat expectations, and the jobless rate ticked down Statistics Canada reported employers added roughly 18,000 jobs in June, ahead of forecasts and building on May's much larger 88,000-job gain. The unemployment rate slipped to 6.5%, back to where it stood in Januar...
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Trudeau Announces $15 Billion Boost to Housing Program

 

Prime Minister Justin Trudeau has unveiled plans for a $15 billion increase to the Apartment Construction Loan Program (ACLP) as part of Budget 2024. This significant boost aims to construct a minimum of 30,000 new apartments across Canada.

As part of this announcement, the Prime Minister also introduced the Canada Builds program. This initiative will partner with provinces and territories to build rental housing, providing federal financing under certain conditions. These conditions include complementing federal funding with their own investments, utilizing government, non-profit, community-owned, and vacant lands, and streamlining development approval timelines to no longer than 18 months.

The Apartment Construction Loan Program, launched in 2017, has already committed over $18 billion in loans to support the creation of more than 48,000 new rental homes. With this top-up, the program’s financing is now on track to build over 131,000 new apartments within the next decade. Reforms announced alongside this boost include extending loan terms and broadening access to financing for housing aimed at students and seniors.

This move represents a significant step toward addressing Canada’s housing challenges and ensuring affordable housing options for citizens. As the country continues to grow, initiatives like the ACLP play a crucial role in meeting the housing needs of Canadians.


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