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5 Things to Know Today: July 9, 2026

Thursday, July 9, 2026   Your quick morning briefing on the Canadian money news that matters. 1. Bank of Canada widely expected to hold rates on July 15 With just a week to go before the Bank of Canada's next rate announcement, markets and economists are almost unanimous: the overnight rate should stay parked at 2.25%, where it's been since October 2025. The Bank is caught between two problems that pull in opposite directions — a soft economy that would normally call for a cut, and inflation running near 2.8-3% (partly due to elevated oil prices) that argues against one. Bond markets are pricing in only a small chance of any move at all. If you're carrying a variable-rate mortgage or HELOC, don't expect relief just yet, but don't expect an increase either. The Bank's updated quarterly Monetary Policy Report, out the same day, will be worth watching for hints about the fall. 2. CUSMA shifts to annual reviews after the deadline quietly passed July 1 came and wen...
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Wildfire Reaches Athens’ Outskirts, Prompting Evacuations

 

A fast-moving wildfire, driven by gale-force winds, has spread to the edge of Athens, Greece, torching trees, houses, and cars. The blaze has forced the evacuation of several hospitals and numerous towns and villages.

Key Points:

  • Firefighting Efforts: Over 670 firefighters, supported by volunteers, 183 fire engines, and 32 waterbombing planes and helicopters, are battling the fire.
  • Evacuations: At least 250 people have been evacuated, with some spending the night in shelters.
  • Weather Conditions: Strong winds and high temperatures are exacerbating the situation, with flames reaching heights of 25 meters (82 feet).
  • Government Response: Prime Minister Kyriakos Mitsotakis has returned from a holiday to oversee the response, recalling the devastating 2018 fire in Mati.

The situation remains critical as authorities continue to combat the blaze and protect residents.

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