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5 Things to Know Today — June 21, 2026

  Whether you're starting your week or wrapping up your weekend, here are the five Canadian money stories shaping your financial picture right now. 1 Canada Is Technically in a Recession — And the Political Fight Is On Canada's GDP contracted 0.1% on an annualized basis in Q1 2026, following a 1% decline in Q4 2025 — two consecutive quarters of negative growth that meet the textbook definition of a technical recession. Prime Minister Mark Carney has called it a "settling-in period" tied to his government's restructuring of the economy in response to the U.S. trade war. Conservative Leader Pierre Poilievre has been relentless in his counter-offensive, pointing to rising insolvencies, job losses and food bank usage as proof that the downturn is real, not technical. Many economists, including BMO's chief economist Douglas Porter, have noted that a future revision to Statistics Canada's data could erase the slim 0.1% contraction — meaning this may not ultimate...
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South Korea in Turmoil: President Declares Martial Law

In a shocking late-night address, South Korean President Yoon Suk Yeol declared martial law, citing the need to counter "anti-state forces" and protect the nation from North Korean threats. This unprecedented move has plunged the country into its most significant political crisis since its democratization in 1987.

The declaration, which empowers the military to shut down political activity and control media and publishers, has sparked widespread protests and intense criticism from both domestic and international communities. Lawmakers from the opposition party have condemned the move as unconstitutional and have vowed to impeach the president.

As the nation grapples with this crisis, the international community watches closely, with the US and UK expressing grave concerns and urging a peaceful resolution. The South Korean won has fallen to its lowest level since October 2022, reflecting the economic uncertainty caused by the political turmoil.

The coming days will be crucial in determining the future of South Korea's democracy and its relationship with the global community.



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