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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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Israel Storms Gaza City Neighborhood, Orders Palestinians to Move South

 


In a recent escalation of the ongoing conflict, Israel stormed a neighborhood in Gaza City, directing Palestinians to move south. Tanks rolled into the Shejaia neighborhood, firing and causing destruction. Drones also attacked after overnight bombings. The Palestinian Civil Emergency Service reported casualties in Shejaia, but their teams were unable to reach the affected areas due to the ongoing offensive. Meanwhile, the armed wing of Hamas ally Islamic Jihad detonated an explosive device against an Israeli tank east of Shejaia.

The situation remains dire in Gaza, with aid officials warning of high famine risk. Almost half a million people face “catastrophic” food insecurity. Additionally, the death toll from malnutrition and dehydration has risen, with at least 31 children losing their lives. Israel denies creating famine conditions, attributing distribution problems to aid agencies and accusing Hamas of diverting aid.

This conflict continues to have devastating consequences for civilians, and urgent humanitarian efforts are needed to address the crisis.



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