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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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Trump Promises 25% Tariff on Products from Mexico and Canada

 

 

U.S. President-elect Donald Trump announced on Monday that he will sign an executive order imposing a 25% tariff on all products entering the United States from Mexico and Canada. This move is part of his broader strategy to address issues related to illegal immigration and drug trafficking, particularly fentanyl.

Trump made the announcement on Truth Social, stating that the tariffs will remain in place until Mexico and Canada take significant measures to curb the flow of drugs and illegal migrants across their borders. He emphasized that this action is necessary to protect American jobs and national security.

The proposed tariffs have sparked concerns among economists and trade experts, who warn that such measures could lead to higher prices for American consumers and potential retaliatory actions from Mexico and Canada. The tariffs are expected to impact a wide range of products, including automobiles, electronics, and agricultural goods.

Canadian and Mexican officials have yet to respond to Trump's announcement, but the move is likely to strain trade relations between the three countries. The tariffs could also complicate the implementation of the United States-Mexico-Canada Agreement (USMCA), which was designed to facilitate trade and economic cooperation in North America.

As the January 20th inauguration date approaches, businesses and consumers are bracing for the potential economic fallout from these tariffs.


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