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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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Trump Defends Tariffs Amidst Economic Uncertainty



In a recent address to Congress, President Donald Trump defended his tariff strategy, despite acknowledging the potential economic discomfort it may cause. Trump emphasized that the tariffs, which represent the largest increases in a century, are designed to generate significant revenue and rebalance what he perceives as unfair trading relationships. He assured Americans that the economic pain, manifesting as higher prices, would be a "little disturbance" that the nation could overcome.

Trump's speech, which lasted a record-setting 100 minutes, focused on his political strengths, including immigration policies and social issues, while spending relatively little time addressing consumer prices and inflation. He blamed high prices on his predecessor, Joe Biden, and offered few new ideas to lower costs.

The president's approval rating has declined in recent polls, and data shows new strains on the economy, including stagnating factory activity, simmering inflation, and declining consumer confidence. Despite these challenges, Trump remains committed to his tariff strategy, believing it will ultimately benefit the American economy.


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