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5 Things to Know Today – June 9, 2026

  Here are the five stories shaping your money today — from tomorrow's pivotal Bank of Canada decision to a looming trade deadline that could affect every Canadian business. 1. 🏦 Bank of Canada Decides Tomorrow — Hold Expected, But It's Not Simple All eyes are on Ottawa as the Bank of Canada announces its overnight rate decision on Wednesday, June 10 at 9:45 a.m. ET. The benchmark rate currently sits at 2.25%, and a hold is the widely expected outcome. But experts say it's the most uncertain call in months. Canada's economy has slipped into a technical recession — Q1 2026 GDP contracted at an annualized rate of -0.1%, following a downward revision to Q4 2025 (-1.0%). Under normal conditions, that would point toward a rate cut. But with energy-driven inflation climbing to 2.8% in April and geopolitical pressures still unresolved, the Bank is stuck between a rock and a hard place. Governor Tiff Macklem holds a press conference at 10:30 a.m. ET. Markets will be listening ...
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Arctic Chill and Lake-Effect Snow Squalls Grip Ontario

Ontario is currently experiencing a dangerous Arctic freeze, with lake-effect snow squalls continuing to impact the region. The Arctic airmass has brought bitterly cold temperatures, causing snow squalls off the still-unfrozen Great Lakes. Snow squall watches and warnings are in effect for several areas, with parts of southern Ontario expected to see over 40 cm of snow accumulation through Wednesday.

Extreme cold warnings have been issued for all of northern Ontario, where wind chills as low as -50°C are forecast. These frigid conditions pose a significant risk of frostbite and hypothermia, with temperatures expected to remain below freezing for the next few days.

Residents are advised to bundle up with extra layers, limit outdoor exposure, and be cautious while traveling due to poor visibility and slippery road conditions. Stay safe and warm during this extreme weather event!


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