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5 Things to Know Today: 68,000 Jobs Lost, a Weaker Loonie and the Oct. 28 BoC Decision

  Oct 12, 2026   Happy Thanksgiving. Canadian markets are closed today, but the numbers that shape your wallet aren't taking the day off. Here are five things to know on Monday, October 12. 1. Canada lost about 68,000 jobs in September, wiping out 2026's gains Statistics Canada reported that employment fell by roughly 68,000 in September, following a 41,700-job drop in August. The unemployment rate edged up to 6.5% from 6.4%. Economists had forecast a small gain. Put the two months together and Canada has lost about 41,200 jobs so far this year, compared with a gain of 211,300 over the same stretch of 2025, according to Reuters. The losses were spread almost evenly between full-time and part-time work and were concentrated in the public sector. Workers aged 15 to 24 lost 48,000 jobs, Quebec shed 49,000, and Ontario's unemployment rate sits at 7.0%, the highest among the large provinces. Average hourly wages were up 2.3% from a year ago. What it means for you: A softening j...
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5 Things to Know Today: Bank of Canada Holds, TSX Rallies, Oil Eases

 


5 Things to Know Today

Monday, June 15, 2026

1. BoC Holds Rates at 2.25% Amid Economic Weakness

The Bank of Canada confirmed its fifth consecutive rate hold at 2.25% on June 10. Governor Tiff Macklem emphasized the bank is "looking through" energy price shocks while monitoring trade policy uncertainty. The key takeaway for borrowers: mortgage rates remain in holding pattern, but the BoC's shift to calling the economy "weak" signals caution ahead.

2. TSX Approaching 35,000 on Diplomatic Optimism

The S&P/TSX Composite jumped 0.8% Friday to close at 34,938, riding optimism over potential US-Iran negotiations. Financial stocks led (TD +1.1%, BMO +1.2%), while mining names advanced despite soft gold prices (Agnico Eagle +3.4%). The rebound signals investor appetite returning, though geopolitical uncertainty remains the key wild card.

3. Strait of Hormuz Breakthrough Could Ease Oil Pressure

Reports suggest a US-Iran memorandum to reopen the Strait of Hormuz could be signed this week at the G7 summit. Oil prices eased Friday as a result, reducing inflation concerns. For Canadian households, softer energy costs could translate to lower gas prices and take pressure off your wallet—though Middle East developments remain fluid.

4. Inflation Holding Above Target at 2.8% (April Data)

April inflation came in at 2.8%, above the BoC's 2% midpoint target, though core inflation eased to 2.1%. Energy prices drove the headline print, but the central bank notes limited pass-through to other sectors. Watch for this week's retail sales and manufacturing reports to confirm whether Q2 growth is truly resuming after Q1's contraction.

5. Critical Economic Data Drops This Week

Monday brings April manufacturing and wholesale sales reports, with Friday's retail sales data closing the week. RBC Economics expects wholesale strength to persist while retail shows stabilization. These reports are crucial for confirming the BoC's outlook of renewed Q2 growth after the economy contracted in Q1 2025. Better-than-expected data could reshape rate expectations.

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