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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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Former Soccer Star Mikheil Kavelashvili Elected President of Georgia, Sparking Concerns Over EU Aspiration

 

In a significant political shift, former soccer player Mikheil Kavelashvili has been elected as the President of Georgia. This development has raised concerns about the country's future relationship with the European Union. Kavelashvili, 53, secured the presidency with the backing of the ruling Georgian Dream party, which holds a strong influence over the 300-seat electoral college that replaced direct presidential elections in 2017.

The election outcome is seen by many as a setback for Georgia's EU aspirations. The opposition has accused the Georgian Dream party of rigging the vote with Moscow's assistance, further straining the country's political landscape. Critics argue that the ruling party's policies are increasingly authoritarian and pro-Russian, which could hinder Georgia's efforts to integrate with the European Union.

Outgoing President Salome Zourabichvili, a pro-Western leader, has vowed to remain in office until a new election is held, citing the lack of legitimacy in the current parliamentary setup. The political turmoil has led to widespread protests and calls for new elections under conditions that ensure the will of the people is accurately represented.

Kavelashvili's presidency marks a pivotal moment for Georgia, as the nation navigates its path between European integration and maintaining relations with Russia. The coming months will be crucial in determining the direction of Georgia's political and international future.

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