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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...
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Retail Sales Flat in April, Missing Expectations

American shoppers are showing signs of spending fatigue, with retail sales data for April coming in sharply below expectations. According to the Commerce Department, U.S. retail sales were unchanged from March, missing the anticipated 0.4% increase that economists surveyed by the Journal had expected. This slowdown follows a 0.6% month-over-month increase seen in March, highlighting concerns about the state of the consumer amid sticky inflation and higher interest rates.

Key Points:

  • Flat Retail Sales: In April, retail sales remained stagnant, failing to meet the projected growth.
  • Excluding Auto and Gas: Sales declined by 0.1%, falling short of the expected 0.1% increase.
  • Sector Performance:
    • Nonstore retailers led the declines, dropping 1.2% from the previous month.
    • Sporting goods and hobby stores also declined by 0.9%.
    • Clothing and accessories stores saw a 1.6% rise in sales.
    • Gasoline sales picked up by 3.1%.
  • Economic Context: Economists are closely monitoring consumer spending amid the Federal Reserve’s pivot to keep interest rates high for longer than expected.

This situation underscores the delicate balance between consumer demand, inflation, and monetary policy. As we await further context, it’s clear that retail sales are a critical indicator to watch in the current economic landscape.


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