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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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Carney and Trump Set to Meet Amid Renewed Diplomatic Focus

 

Prime Minister Mark Carney and U.S. President Donald Trump are preparing for their first in-person meeting following a phone call on Tuesday. The conversation, which came shortly after Carney's election victory, emphasized the importance of Canada and the United States collaborating as independent, sovereign nations. Both leaders agreed to work together for mutual benefit and to meet in the near future.

This meeting comes at a pivotal time, as Carney's government navigates a minority mandate and ongoing trade tensions with the U.S. The discussions are expected to address key issues, including tariffs on Canadian exports and broader economic cooperation.

Carney's victory speech highlighted his commitment to uniting a divided Canada and fostering stronger ties with international partners. The upcoming meeting with Trump will likely set the tone for future Canada-U.S. relations.

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