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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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Bank of Canada Holds Rates Steady, Signals Pause Amid Strong Economy

 

                                            Tiff Macklem, Governor of the Bank of Canada

The Bank of Canada is widely expected to hold its benchmark interest rate at 2.25% in its final policy decision of 2025, marking the beginning of what economists believe could be an extended pause in monetary policy adjustments. After a year of multiple rate cuts aimed at supporting growth, the central bank now appears confident that the current level is sufficient to balance inflation pressures with economic resilience.

Recent data has reinforced this stance. Canada’s economy grew at an annualized pace of 2.6% in the third quarter, while the unemployment rate fell to 6.5% in November. Inflation also eased slightly, with October’s headline rate at 2.2%, down from 2.4% in September. These indicators suggest that the economy is performing better than anticipated, reducing the likelihood of further cuts in the near term.

Financial markets had already priced in a 93% chance of a rate hold, reflecting broad consensus among analysts that the Bank of Canada would step back after its easing cycle earlier this year. Governor Tiff Macklem previously signaled that rates were “at about the right level” to temper inflation without stalling growth.

The decision also comes as the U.S. Federal Reserve prepares its own rate announcement, underscoring the interconnectedness of North American monetary policy. While the Fed is expected to continue easing, Canada’s stronger-than-expected data has shifted speculation toward whether the next move could eventually be a hike rather than another cut.

This pause marks a turning point in 2025’s monetary policy trajectory. Having lowered rates four times earlier in the year, the Bank of Canada now appears set to hold steady into 2026, giving policymakers time to assess whether inflation remains contained and growth sustainable.

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