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5 Things to Know Today: BoC Decision Looms, Oil Spikes, Bigger CCB Cheques Land

  Tuesday, July 14, 2026 Good morning. Here's what Canadians need to know today, from tomorrow's Bank of Canada rate call to a bigger Canada Child Benefit deposit landing next week. 1. Bank of Canada decides tomorrow — a hold is widely expected The Bank of Canada announces its interest rate decision Wednesday, July 15, at 9:45 a.m. ET, alongside its quarterly Monetary Policy Report. Markets and economists widely expect the Bank to hold its key rate at 2.25%, with Governor Tiff Macklem holding a press conference at 10:45 a.m. ET to explain the decision. What it means for you: If you're renewing a mortgage or carrying a variable-rate loan or HELOC, tomorrow's decision likely won't change your payment. But watch the tone of the statement closely — renewed oil-price pressure (see #3) could shape how the Bank talks about inflation risk heading into the fall. 2. U.S. inflation data drops this morning The U.S. Bureau of Labor Statistics releases its June Consumer Price In...
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Hudson’s Bay Liquidation Marks End of an Era, Thousands of Jobs at Stake

 

Hudson’s Bay, Canada’s oldest retail company, is set to liquidate the majority of its stores, leaving thousands of employees facing layoffs. The company, which has been a cornerstone of Canadian retail for over 350 years, recently filed for creditor protection due to financial challenges, including reduced consumer spending and post-pandemic downtown traffic.

Starting today, liquidation sales will begin at all but six Hudson’s Bay locations across the country. The six stores spared include flagship locations in Toronto and Montreal, among others. However, the company has warned that these stores could also face closure if a restructuring solution is not found quickly.

The liquidation process is expected to impact over 9,000 employees directly, with additional effects on contractors and brand shop-in-shop staff. Many employees, some with decades of service, are grappling with the emotional and financial toll of the closures.

The liquidation sales are set to run until June 15, with stores vacated by June 30. Gift cards will be accepted until April 6, but loyalty points can no longer be redeemed.

This development marks a significant shift in Canada’s retail landscape, as Hudson’s Bay has been a symbol of heritage and commerce for centuries. The company’s iconic striped products and historic point blankets have become collector’s items amid the closures.



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