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Bank of Canada Rate Decision Tomorrow: What Every Canadian Needs to Know Before June 10

Current Rate 2.25% Held since Oct 2025 Expected Decision HOLD 34/34 economists Announcement 9:45 AM Wed, June 10 (ET) Prime Rate 4.45% Most major lenders On Wednesday morning, June 10, the Bank of Canada will announce its interest rate decision at 9:45 AM ET — and for Canadians with a mortgage, a variable-rate loan, or a renewal coming up, the decision is just two days away. Governor Tiff Macklem will follow with a press conference at 10:30 AM. The short answer: expect no change. But the full picture is considerably more complicated — and the Bank's tone tomorrow could signal whether rate hikes are quietly creeping back onto the table. The Consensus: A Hold, Full Stop The economist community is remarkably united heading into this decision. In a Reuters poll conducted June 2–5, all 34 economists surveyed predicted the Bank would leave its overnight rate at 2.25%. More than 80% said it would stay there for the rest of 2026. "Under normal circumstances, today's sagging econom...
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UK Grocery Inflation Hits 18-Month High, Squeezing Household Budgets

 

Grocery price inflation in the UK surged to 5.2% in the four weeks leading up to July 13, marking the highest rate since January 2024. The increase, up from 4.7% the previous month, is expected to add an average of £275 to annual household grocery bills.

What's Driving the Rise?

  • Retailer costs: Rising staff wages, increased National Insurance contributions, and regulatory expenses are being passed on to consumers.
  • Commodity pressures: Global supply chain issues continue to affect food prices.
  • Consumer behavior: Nearly two-thirds of UK households report being “very concerned” about grocery costs.

How Shoppers Are Adapting

  • Switching to own-label products: Sales of supermarket-branded items rose by 5.6%, outpacing branded goods at 4.9%.
  • Simpler meals: About 70% of dinners now include fewer than six ingredients, reflecting budget-conscious cooking habits.

Winners and Losers in Retail

SupermarketSales GrowthMarket Share
Ocado+11.7%2.0%
Lidl+11.1%8.3%
Tesco+7.1%28.3%
Sainsbury's+5.3%15.1%
Asda-3.0%11.8%
Co-op-3.7%5.2%

Discount retailers like Lidl and Aldi are gaining ground as shoppers seek value, while Asda and Co-op saw declines.


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