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5 Things to Know Today: July 9, 2026

Thursday, July 9, 2026   Your quick morning briefing on the Canadian money news that matters. 1. Bank of Canada widely expected to hold rates on July 15 With just a week to go before the Bank of Canada's next rate announcement, markets and economists are almost unanimous: the overnight rate should stay parked at 2.25%, where it's been since October 2025. The Bank is caught between two problems that pull in opposite directions — a soft economy that would normally call for a cut, and inflation running near 2.8-3% (partly due to elevated oil prices) that argues against one. Bond markets are pricing in only a small chance of any move at all. If you're carrying a variable-rate mortgage or HELOC, don't expect relief just yet, but don't expect an increase either. The Bank's updated quarterly Monetary Policy Report, out the same day, will be worth watching for hints about the fall. 2. CUSMA shifts to annual reviews after the deadline quietly passed July 1 came and wen...
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Chrystia Freeland Announces Bid for Liberal Leadership

In a significant political move, Chrystia Freeland has announced her candidacy for the leadership of the Liberal Party of Canada. Freeland, who previously served as the finance minister and deputy prime minister, is set to officially launch her campaign this Sunday. Her decision comes after a month of speculation following her resignation from the cabinet.

Freeland's entry into the race is expected to intensify the competition, especially with former Bank of Canada governor Mark Carney also vying for the top spot. If successful, Freeland could become Canada's second female prime minister. Early polling indicates that she is a strong contender, with 29% of Canadians expressing support for her leadership.

Freeland's campaign is likely to focus on key issues such as economic stability and climate change, areas where she has previously shown strong leadership. Her candidacy has already sparked discussions about the future direction of the Liberal Party and Canada's political landscape.



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