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5 Things to Know Today — June 11, 2026

  The Bank of Canada confirmed its fifth straight rate hold yesterday, oil slipped back toward $89 a barrel after fresh U.S. strikes on Iran, and Canada Post workers officially have a new contract. Here is what every Canadian needs to know heading into Wednesday. 1 of 5 — Interest Rates Bank of Canada holds at 2.25% — for the fifth time in a row The Bank of Canada kept its benchmark interest rate unchanged at 2.25% on June 10, marking five consecutive holds since late 2025. Governor Tiff Macklem said the central bank is trying to balance two opposing forces: inflation pushed higher by elevated energy costs from the Middle East war, and an economy that has barely grown in recent quarters. "Economic weakness combined with rising inflation is a dilemma for monetary policy," Macklem told reporters, adding that holding the rate "balances those risks" for now. What it means for you: Variable-rate mortgage holders and borrowers with lines of credit get another month of pa...
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China Stands Firm Amid Escalating Trade Tensions with the U.S.

In a bold move, Chinese President Xi Jinping declared that China is "not afraid" of external pressures as Beijing raised tariffs on U.S. goods to 125%. This escalation marks a significant chapter in the ongoing trade war between the world's two largest economies. Xi emphasized China's resilience, stating that the nation has thrived on self-reliance and hard work for over 70 years, and it will not bow to what he described as "unjust suppression".

The tariff hike comes as a response to the U.S.'s recent increase in levies on Chinese imports, which now stand at a staggering 145%. Both nations have engaged in a tit-for-tat exchange of economic measures, fueling fears of a global recession and unsettling international markets. Despite the tensions, Xi expressed confidence in China's ability to navigate these challenges, focusing on strengthening ties with other global partners.

This development underscores the deepening rift between the two economic powerhouses, with no clear resolution in sight. The world watches closely as the trade war continues to reshape global economic dynamics.

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