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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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Power begins to return after huge outage hits Spain and Portugal, Cause Still Unclear

 

Power has been almost fully restored across Spain and Portugal following one of the most significant blackouts in European history. The outage, which began on April 28, 2025, disrupted daily life for millions, grounding flights, halting metro systems, and leaving cities in darkness. By early April 29, over 99% of energy demand in Spain and all power substations in Portugal were back online.

Despite the restoration efforts, the root cause of the blackout remains a mystery. Initial investigations have ruled out cyberattacks and sabotage, with experts pointing to potential anomalies in the interconnected European power grid. Spanish and Portuguese authorities continue to work closely with energy operators to determine the exact sequence of events that led to the unprecedented outage.

As life returns to normal, questions linger about the resilience of the region's power infrastructure and the measures needed to prevent future disruptions. For now, the Iberian Peninsula breathes a sigh of relief as lights flicker back on and daily routines resume.

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