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5 Things to Know Today — June 11, 2026

  The Bank of Canada confirmed its fifth straight rate hold yesterday, oil slipped back toward $89 a barrel after fresh U.S. strikes on Iran, and Canada Post workers officially have a new contract. Here is what every Canadian needs to know heading into Wednesday. 1 of 5 — Interest Rates Bank of Canada holds at 2.25% — for the fifth time in a row The Bank of Canada kept its benchmark interest rate unchanged at 2.25% on June 10, marking five consecutive holds since late 2025. Governor Tiff Macklem said the central bank is trying to balance two opposing forces: inflation pushed higher by elevated energy costs from the Middle East war, and an economy that has barely grown in recent quarters. "Economic weakness combined with rising inflation is a dilemma for monetary policy," Macklem told reporters, adding that holding the rate "balances those risks" for now. What it means for you: Variable-rate mortgage holders and borrowers with lines of credit get another month of pa...

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Southern Europe Braces for Prolonged Heat Wave Amid Wildfire Concerns

 


Greek authorities have issued a warning about an impending weeklong heat wave during the summer tourist season. Much of southern Europe is sweltering under high temperatures, with a high risk of dangerous wildfires. The heat wave, expected to last at least a week, comes after June 2024 was declared the hottest June on record in Greece. Southwesterly winds from Africa are driving temperatures to sometimes exceed 40 degrees Celsius (104 Fahrenheit) until July 19.

In neighboring North Macedonia, authorities have also taken action. They’ve issued a weeklong heat alert starting Friday in the small, landlocked Balkan country. People are urged to stay indoors when possible and avoid heavy labor during the hottest hours of the day. Emergency measures include keeping pregnant women and people over 60 off work, banning construction from 11 a.m. to 5 p.m., and moving kindergarten classes indoors after 11 a.m. Health officials have reported an increase in heat-related health problems, and wildfires have surged, with 14 registered nationwide in the past 24 hours.

Greece, too, faces a very high risk of wildfires, and this summer has been described as the most dangerous in the past 20 years. Unusually dry winter and spring conditions have left vegetation and forests tinder-dry. Greek firefighters, aided by drones and a strengthened fleet of water-bombing aircraft, have battled over 2,000 wildfires since June. While most were contained quickly, the threat remains. Let’s hope for cooler days ahead and vigilance in fire prevention efforts. 


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