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5 Things to Know Today – June 9, 2026

  Here are the five stories shaping your money today — from tomorrow's pivotal Bank of Canada decision to a looming trade deadline that could affect every Canadian business. 1. 🏦 Bank of Canada Decides Tomorrow — Hold Expected, But It's Not Simple All eyes are on Ottawa as the Bank of Canada announces its overnight rate decision on Wednesday, June 10 at 9:45 a.m. ET. The benchmark rate currently sits at 2.25%, and a hold is the widely expected outcome. But experts say it's the most uncertain call in months. Canada's economy has slipped into a technical recession — Q1 2026 GDP contracted at an annualized rate of -0.1%, following a downward revision to Q4 2025 (-1.0%). Under normal conditions, that would point toward a rate cut. But with energy-driven inflation climbing to 2.8% in April and geopolitical pressures still unresolved, the Bank is stuck between a rock and a hard place. Governor Tiff Macklem holds a press conference at 10:30 a.m. ET. Markets will be listening ...

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BRICS Calls for Peace and Reform Amid Global Turmoil

At their latest summit in Rio de Janeiro, BRICS (i.e. intergovernmental organization made up of major emerging economies that aim to reshape global governance and promote cooperation among countries of the Global South) leaders issued a powerful joint statement condemning recent military strikes on Gaza and Iran, while urging sweeping reforms to global governance institutions. The bloc — now expanded to include 10 member nations — emphasized the need for multilateral diplomacy and a more equitable international order.

The declaration denounced the attacks on Iran’s civilian infrastructure and nuclear facilities as violations of international law, and expressed *grave concern* over the humanitarian crisis in Gaza. Leaders called for an immediate and unconditional ceasefire, the withdrawal of Israeli forces from occupied territories, and the release of hostages held in violation of international law.

Brazilian President Luiz Inácio Lula da Silva likened BRICS to the Cold War-era Non-Aligned Movement, positioning the group as a voice for the Global South. “With multilateralism under attack, our autonomy is in check once again,” he said, highlighting the bloc’s growing influence — now representing over half the world’s population and 40% of global economic output.

The summit also renewed calls to reform institutions like the UN Security Council and the International Monetary Fund, arguing that current structures no longer reflect the multipolar reality of the 21st century.

Despite internal differences and geopolitical tensions, BRICS leaders presented a united front in advocating for diplomacy, peace, and a more inclusive global system.

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