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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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Alberta Minister Peter Guthrie Resigns Amidst Procurement Concerns

 

In a surprising turn of events, Alberta Infrastructure Minister Peter Guthrie has resigned from his cabinet position, citing a lack of confidence in the government's procurement practices. Guthrie, who represents the United Conservative Party (UCP) as the MLA for Airdrie-Cochrane, announced his resignation on social media, expressing his concerns over inconsistencies in procurement processes across all government departments.

Guthrie's resignation comes amidst ongoing allegations of high-level interference and favoritism in multimillion-dollar health contracts within Alberta Health Services (AHS). He had previously pushed for the establishment of a Financial Oversight Committee to review major government contracts, a proposal that was not supported by the majority of the cabinet.

Premier Danielle Smith acknowledged Guthrie's resignation and reiterated the seriousness of the allegations surrounding AHS contracts. Smith emphasized that she was not involved in the procurement decisions and has directed senior civil service to retain an independent third party to investigate the matter.

Guthrie's departure has raised questions about internal divisions within the UCP government as it prepares to unveil its fiscal plan and key legislation. Despite his resignation, Guthrie intends to remain in the UCP caucus as a private member, where he plans to continue advocating for accountability and transparency in government practices.



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