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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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Tensions Surge as China Claims to Expel U.S. Destroyer from Scarborough Shoal

 


China’s military announced on Wednesday that it had monitored and “drove away” the U.S. Navy destroyer USS Higgins after it sailed near the disputed Scarborough Shoal in the South China Sea. The incident marks the first known U.S. operation within the shoal’s waters in at least six years, occurring just a day after the Philippines accused Chinese vessels of “dangerous maneuvers” during a supply mission in the area.

According to the Chinese military’s Southern Theater Command, the destroyer entered the waters “without approval” from Beijing, an act it said “seriously violated China’s sovereignty and security” and undermined regional stability. The U.S. Navy’s Seventh Fleet countered that the mission was a lawful “freedom of navigation” operation, asserting navigational rights under international law.

Scarborough Shoal, a rich fishing ground and strategic maritime chokepoint, is claimed by China, the Philippines, and other Southeast Asian nations. Despite a 2016 international tribunal ruling rejecting Beijing’s expansive claims, China continues to assert control over the area. The shoal remains a flashpoint in the broader South China Sea dispute, a region through which more than $3 trillion in trade passes annually.

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