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June Jobs Report: What It Means for the Bank of Canada's July 15 Decision

  Friday, July 10, 2026 Statistics Canada releases its June Labour Force Survey today, and the timing couldn't matter more. This is the last major economic data point before the Bank of Canada's next interest rate decision on July 15, 2026 — and whichever way the jobs numbers break, they'll shape what happens to borrowing costs for the rest of the summer. What Economists Are Expecting Consensus forecasts point to a modest but positive jobs report. Economists expect Canada added around 10,000 jobs in June, with the unemployment rate holding steady at 6.6%. That would follow a much stronger May, when the economy added 88,000 jobs and the unemployment rate actually fell by 0.3 percentage points. In other words, June's report is expected to show a cooling-off after May's surprise strength — not a reversal, but a return to a more modest pace of hiring. Indicator May 2026 June 2026 (Forecast) Net Employment Change +88,000 jobs +10,000 jobs (expected) Unemployment Rate 6....

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India Stands Firm on Russian Oil Imports Amid Trump’s Tariff Warnings

 

An oil refinery in Guwahati, India, in 2023. Russia is the source of more than one third of India’s oil imports.

India will maintain its purchases of Russian oil despite threats of tariffs from former U.S. President Donald Trump, according to senior government sources. The decision underscores New Delhi’s commitment to energy security and strategic autonomy, even as geopolitical tensions rise.

Trump, who has recently intensified his rhetoric on trade and foreign policy, warned of potential tariffs on countries continuing business with Russia. However, Indian officials argue that their oil imports are driven by national interest and market dynamics, not political alignment.

“India’s energy needs are substantial, and Russian crude offers competitive pricing,” said one official familiar with the matter. “We will not compromise our economic priorities based on external pressure.”

Since the onset of the Ukraine conflict, India has significantly increased its intake of discounted Russian oil, helping to cushion domestic inflation and support economic growth. While Western nations have imposed sanctions on Moscow, India has maintained a neutral stance, advocating dialogue and diplomacy.

Analysts suggest that Trump’s threats may have limited impact, especially given India’s growing global clout and diversified trade relationships. “India is no longer a passive player—it’s a strategic actor with its own calculus,” said a senior energy expert.

As global energy markets remain volatile, India’s decision signals a broader shift toward multipolarity, where nations prioritize pragmatic partnerships over ideological alliances.

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