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5 Things to Know Today: BoC Decision Looms, Oil Spikes, Bigger CCB Cheques Land

  Tuesday, July 14, 2026 Good morning. Here's what Canadians need to know today, from tomorrow's Bank of Canada rate call to a bigger Canada Child Benefit deposit landing next week. 1. Bank of Canada decides tomorrow — a hold is widely expected The Bank of Canada announces its interest rate decision Wednesday, July 15, at 9:45 a.m. ET, alongside its quarterly Monetary Policy Report. Markets and economists widely expect the Bank to hold its key rate at 2.25%, with Governor Tiff Macklem holding a press conference at 10:45 a.m. ET to explain the decision. What it means for you: If you're renewing a mortgage or carrying a variable-rate loan or HELOC, tomorrow's decision likely won't change your payment. But watch the tone of the statement closely — renewed oil-price pressure (see #3) could shape how the Bank talks about inflation risk heading into the fall. 2. U.S. inflation data drops this morning The U.S. Bureau of Labor Statistics releases its June Consumer Price In...

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GM's Oshawa Plant to Reduce Shifts Amid U.S. Tariff Concerns


General Motors is set to scale back operations at its Oshawa Assembly Plant this fall, moving from a three-shift system to two shifts. The decision, according to Unifor, the union representing workers, is a direct response to U.S. tariffs imposed on Canadian-built vehicles.

Unifor National President Lana Payne criticized the move, calling it "reckless" and warning that it could have widespread consequences for the auto parts supplier network. The union has urged GM to reconsider its decision, arguing that Canadian jobs should not be sacrificed for political favor.

The shift reduction follows the U.S. government's imposition of a 25% tariff on Canadian-made vehicles in March, a policy that has significantly impacted the Canadian auto industry. GM has stated that it plans to recalibrate the Oshawa plant to focus more on Canadian sales rather than exports to the U.S..

With thousands of jobs potentially affected, Unifor is calling on the Canadian government to take swift action to protect domestic auto manufacturing. The union has also demanded that GM uphold its commitments to Canadian workers and production.

The Oshawa plant, which assembles Chevrolet Silverado trucks, was reopened after significant investments from federal and provincial governments. Now, with the looming shift cuts, workers and industry leaders alike are watching closely to see how GM and policymakers respond.

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