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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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WestJet Mechanics Strike: Over 150 Flights Cancelled Ahead of Long Weekend

In an unexpected turn of events, WestJet mechanics have gone on strike, leading to the cancellation of at least 150 flights starting this Saturday. The Aircraft Mechanics Fraternal Association (AMFA) initiated the strike due to the airline’s “unwillingness to negotiate with the union,” making the strike inevitable. This move followed a federal government order for binding arbitration after two weeks of turbulent discussions with the union.

Calgary-based WestJet expressed extreme outrage at the mechanics’ actions and vowed to hold AMFA accountable for the stress and costs incurred. Last year, WestJet narrowly averted a strike during the May long weekend, but this time, over 20,000 travelers will be impacted by the cancellations.

As the Canada Day long weekend approaches, passengers are left wondering about their travel plans, while the airline grapples with the unexpected labor disruption.

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