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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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Severe Storm Triggers Flooding and Transit Disruptions in Toronto

 

 A powerful storm system has unleashed heavy rainfall across the Greater Toronto Area (GTA), leading to widespread flooding on roadways and affecting transit services. Environment Canada issued a rainfall warning for the city, with a risk of thunderstorms throughout Tuesday afternoon and evening. Here are the key details:

  • Rainfall Warning: Up to 110 millimeters of rain is expected to fall on Tuesday, with rates of 40 mm/h possible at certain points. The intense downpours can cause flash floods and water pooling on roads. Localized flooding in low-lying areas is also possible. Residents are advised to watch for washouts near rivers, creeks, and culverts.

  • Flood Warning: The Toronto and Region Conservation Authority (TRCA) issued a flood warning due to hazardous conditions near bodies of water. Slippery and unstable river banks pose risks, and all shorelines, rivers, and streams in the GTA should be considered dangerous. Erosion and rapidly changing water levels are expected.

  • Transit Disruptions: The Toronto Transit Commission (TTC) and GO Transit have been impacted. TTC Line 1 trains are not stopping at St. Patrick, Lawrence, and Union stations, while Line 2 trains are bypassing Pape station. GO Transit’s Kitchener line will start and end at Malton GO. Peel police also warned drivers about manhole covers lifting due to downpours.

As the city grapples with the deluge, Mayor Olivia Chow is addressing the media, emphasizing caution around water bodies and urging travelers to plan their routes carefully. Union Station’s Bay Concourse Hall has already experienced flooding, and some roads are closed due to high water levels. Toronto Pearson Airport, however, remains operational with no flight disruptions.

Stay informed, stay safe, and be prepared for further updates as the storm continues to impact the GTA. 

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