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5 Things to Know Today – June 9, 2026

  Here are the five stories shaping your money today — from tomorrow's pivotal Bank of Canada decision to a looming trade deadline that could affect every Canadian business. 1. 🏦 Bank of Canada Decides Tomorrow — Hold Expected, But It's Not Simple All eyes are on Ottawa as the Bank of Canada announces its overnight rate decision on Wednesday, June 10 at 9:45 a.m. ET. The benchmark rate currently sits at 2.25%, and a hold is the widely expected outcome. But experts say it's the most uncertain call in months. Canada's economy has slipped into a technical recession — Q1 2026 GDP contracted at an annualized rate of -0.1%, following a downward revision to Q4 2025 (-1.0%). Under normal conditions, that would point toward a rate cut. But with energy-driven inflation climbing to 2.8% in April and geopolitical pressures still unresolved, the Bank is stuck between a rock and a hard place. Governor Tiff Macklem holds a press conference at 10:30 a.m. ET. Markets will be listening ...
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Hurricane Melissa Slams Cuba, Triggers Widespread Evacuations Amid Flooding Threat

 

          A man walks under the rain before the arrival of Hurricane Melissa in Canizo, a village in Santiago de Cuba.


Hurricane Melissa made landfall in eastern Cuba early Wednesday, unleashing destructive winds and torrential rains that have prompted mass evacuations and urgent warnings from forecasters. The storm, which previously battered Jamaica as a Category 5 hurricane, struck near the city of Chivirico as a Category 3 system with sustained winds of 120 mph.

Authorities in Cuba evacuated over 735,000 residents from vulnerable areas, including the provinces of Granma, Santiago de Cuba, Guantanamo, Holguin, and Las Tunas. The National Hurricane Center warned of life-threatening flash flooding and landslides, with rainfall totals expected to reach 10 to 20 inches in some regions. Coastal communities are also bracing for storm surges of up to 3 meters, threatening low-lying areas with inundation.

Melissa’s path through the Caribbean has been marked by devastation. In Jamaica, the storm caused widespread damage to infrastructure, knocked out power and communications, and left entire communities submerged under floodwaters. The hurricane’s rapid intensification has been linked to unusually warm Atlantic waters, a trend scientists say is consistent with climate change.

As Melissa continues its northeast trajectory, it is forecast to move into the Bahamas later Wednesday. Emergency services across the region remain on high alert, with forecasters urging residents to heed evacuation orders and stay informed through official channels.


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