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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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Greece’s Aging Power Grid Fuels Wildfire Crisis, Forcing Costly Upgrades

                                  Local residents watch as a wildfire burns in Keratea, near Athens, Greece, August 8, 2025. 

When Greek firefighters traced the cause of a deadly blaze near the Athens Riviera this summer, they discovered a familiar culprit: a loose, poorly maintained power cable. Within hours, flames had consumed 4,000 acres of land, killed one person, and threatened tourist resorts along the coast.

According to preliminary fire brigade data, faulty power lines were the leading cause of major wildfires in Greece this year, surpassing arson and negligence. Of 41 large blazes investigated, 15 were linked to the electricity network, burning more than 51,000 acres of land.

The problem stems from decades of underinvestment in the grid, particularly during Greece’s 2009–2018 debt crisis. Much of the network—millions of poles and overhead lines—runs through forested “fire hot spots,” making them highly vulnerable as climate change intensifies heatwaves and droughts.

Public power distributor HEDNO has increased maintenance spending, prioritizing underground cabling and vegetation clearing. Still, local authorities accuse the company of negligence, with some mayors preparing lawsuits after repeated fire outbreaks.

Deputy Energy Minister Nikos Tsafos acknowledged the challenge, noting that the government is now racing to fill the “huge gap” left by years of neglect. But the scale of the task is immense, and the cost—running into billions of euros—will weigh heavily on Greece’s energy transition.

As summers grow hotter and drier, the country faces a stark choice: overhaul its fragile grid or risk watching more of its landscapes, communities, and economy go up in flames.



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