Skip to main content

Featured

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...
Post a Comment
Read more

article

Labels

Carney Launches $5B Relief Plan, Pauses EV Mandate Amid Tariff Pressures

 





                                    Prime Minister Mark Carney, speaking in Mississauga, Ont., on Friday.  




Prime Minister Mark Carney has announced a sweeping economic relief package aimed at supporting Canadian industries hardest hit by U.S. and Chinese tariffs. Speaking at an aerospace facility in the Toronto area, Carney unveiled a $5‑billion Strategic Response Fund to help businesses retool, develop new products, and access new markets. The plan also introduces a “Buy Canadian” procurement policy, prioritizing domestic suppliers in federal contracts.

The measures include extended employment insurance benefits, a reskilling program for up to 50,000 workers, and expanded loan facilities for small, medium, and large enterprises affected by trade disruptions. Key sectors such as steel, aluminum, autos, and agriculture are expected to benefit.

In a significant policy shift, the government will delay the 2026 zero‑emission vehicle sales mandate by one year, launching a 60‑day review to address industry concerns over costs and feasibility. Carney framed the moves as part of a broader strategy to make Canada’s economy more resilient in an era of global trade uncertainty.


Labels:

Comments

Post a Comment