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Bank of Canada Rate Decision Tomorrow: What Every Canadian Needs to Know Before June 10

Current Rate 2.25% Held since Oct 2025 Expected Decision HOLD 34/34 economists Announcement 9:45 AM Wed, June 10 (ET) Prime Rate 4.45% Most major lenders On Wednesday morning, June 10, the Bank of Canada will announce its interest rate decision at 9:45 AM ET — and for Canadians with a mortgage, a variable-rate loan, or a renewal coming up, the decision is just two days away. Governor Tiff Macklem will follow with a press conference at 10:30 AM. The short answer: expect no change. But the full picture is considerably more complicated — and the Bank's tone tomorrow could signal whether rate hikes are quietly creeping back onto the table. The Consensus: A Hold, Full Stop The economist community is remarkably united heading into this decision. In a Reuters poll conducted June 2–5, all 34 economists surveyed predicted the Bank would leave its overnight rate at 2.25%. More than 80% said it would stay there for the rest of 2026. "Under normal circumstances, today's sagging econom...

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Aid World in Turmoil: USAID Contractors Face Layoffs and Cash Crunch Under Trump Overhaul


In a dramatic shakeup of U.S. foreign assistance, contractors working with the U.S. Agency for International Development (USAID) have been forced to fire staff and grapple with severe cash shortages amid sweeping changes imposed by President Donald Trump. Hours after taking office, Trump ordered a comprehensive review—and subsequent freeze—of nearly all U.S. foreign aid programs. The move, aimed at realigning spending with “America First” priorities, has led to blanket stop-work orders that left hundreds of contractors without incoming payments for approved projects.

Contractors, who normally front project costs and then invoice the government, suddenly found their revenue streams drying up. As a result, companies reported laying off large portions of their workforce and initiating furloughs, with some citing unpaid invoices worth millions of dollars. The financial crunch has not only jeopardized the livelihoods of thousands of aid workers but also threatened critical programs abroad—from nutritional support for malnourished children to life-saving health initiatives.

Critics warn that these abrupt changes risk undermining decades of humanitarian work that has saved millions of lives, while supporters argue that the review is necessary to eliminate waste and ensure that aid spending directly supports U.S. national interests. As the situation unfolds, uncertainty looms over the future of U.S. foreign assistance, with contractors and aid organizations bracing for further disruptions and potential legal battles over lost benefits and unpaid debts.


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