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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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Montreal Dockworkers Reject Final Offer, Lockout Declared

 

In a significant development, the Montreal Longshoremen’s Union has overwhelmingly rejected the final offer from the Maritime Employers Association (MEA), leading to an immediate lockout. The union, representing approximately 1,200 dockworkers, voted 99.7% against the proposed contract, citing the employer’s refusal to negotiate in good faith.

The MEA expressed disappointment over the outcome, stating that the lockout was unavoidable due to the union’s stance. Essential services and activities unrelated to dockworkers will continue at the port, but the lockout is expected to have substantial economic repercussions, given the Port of Montreal’s role as Canada’s second-largest port, handling nearly $400 million in goods daily.

Union advisor Michel Murray criticized the MEA’s approach, emphasizing that the offer did not address the union’s demands and that the conflict could have been avoided with proper negotiations. The federal labour minister has been urged to intervene to mitigate the economic impact of the lockout.

This lockout adds to the ongoing labor disputes at Canada’s major ports, with workers at the Port of Vancouver also locked out due to a separate contract dispute.


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