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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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Orban Rejects Euro Adoption, Calls EU a “Disintegrating Union”

 

Hungarian Prime Minister Viktor Orban has once again sharpened his criticism of the European Union, declaring that Hungary should not adopt the euro as the bloc faces what he described as “disintegration.”

In an interview with the economic news site EconomX, Orban argued that tying Hungary’s future more closely to the EU through euro adoption would be a mistake. “Hungary should not tie its fate closer to the European Union than now, and adopting the euro would be the closest possible link,” he said.

Hungary, which joined the EU in 2004, has benefited from billions of euros in development funds but has clashed repeatedly with Brussels over rule-of-law concerns. The EU has suspended significant funding to Budapest, citing democratic backsliding under Orban’s government.

Unlike Denmark, Hungary does not have a formal opt-out from the euro, but it has yet to meet the economic conditions required for membership. Several of its regional neighbors, including Poland, the Czech Republic, and Romania, also remain outside the eurozone.

Orban’s remarks stand in stark contrast to the agenda of opposition leader Peter Magyar, who has pledged to unfreeze EU funds and move Hungary closer to adopting the common currency ahead of the 2026 parliamentary elections.

Meanwhile, Hungary’s central bank has kept one of the EU’s highest interest rates at 6.5%, a policy that has helped strengthen the forint against the euro but has also drawn criticism from Orban, who suggested the rate was “higher than it could be.”

The comments underscore the deepening divide between Budapest and Brussels, as Hungary positions itself as a reluctant member of a union it increasingly views with skepticism.


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