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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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Bank of Canada' increases rate to 5% - what does it means for Canadians?

The recent decision by the Bank of Canada to raise the interest rate to 5% could have significant implications for Canadians' finances in the current economic landscape. With higher borrowing costs, individuals may face increased expenses when obtaining mortgages, car loans, or personal loans. This could potentially limit their discretionary spending power, affecting their ability to make large purchases or invest in the economy. 

Moreover, homeowners with variable-rate mortgages or those renewing their mortgages may experience higher monthly payments, potentially straining their budgets. While savers may benefit from higher returns on savings accounts and fixed-term deposits, individuals with investments in bonds may face lower returns. Furthermore, a stronger Canadian dollar resulting from increased interest rates could impact export-dependent businesses, as it raises the relative cost of Canadian goods abroad. Overall, the impact of the rate hike on Canadians' finances will depend on various factors, including individual circumstances and the broader economic conditions.







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