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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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Ford Pushes for Highway 401 Tunnel in Letter to Carney

 

Ontario Premier Doug Ford has formally requested federal support for a proposed tunnel under Highway 401, a project he describes as nation-building and essential for economic growth. In a letter sent to Prime Minister Mark Carney, Ford outlined several priority projects, including critical mineral access, electric vehicle supply chain development, and bail reforms. However, the most ambitious proposal is the tunnel, which Ford argues would significantly reduce congestion on North America's busiest highway.

The Ford government is currently seeking proposals for a feasibility study to explore various options, including an elevated highway and truck-only lanes. Despite skepticism from opposition leaders, Ford remains committed to the tunnel project, emphasizing its long-term benefits for Ontario's infrastructure and economy.

Critics, including NDP Leader Marit Stiles and Liberal Leader Bonnie Crombie, have dismissed the tunnel as unrealistic and financially burdensome. Stiles called it a "fantasy tunnel," while Crombie warned that its cost could bankrupt the province. Nevertheless, Ford has pledged to move forward with the project, regardless of feasibility study outcomes.

The federal government's response to Ford's request remains uncertain, but the proposal has already sparked significant debate about Ontario's infrastructure priorities and the future of transportation in the province.

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