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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 coul...
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Population growth outpaces job creation in Canada

 


Canada’s labour market is facing a challenge as the number of people looking for work is growing faster than the number of jobs available. According to Statistics Canada, employment increased by 25,000 in November, but the unemployment rate rose to 5.8 per cent from 5.7 per cent in October. This is because the population aged 15 and over grew by 870,000, or 2.7 per cent, since the beginning of the year, while the net job gain was only 430,000.

The Bank of Canada has been raising interest rates to curb inflation, but this has also slowed down the economy and the demand for labour. Some economists expect the central bank to start cutting rates in the second quarter of next year to stimulate growth and stabilize the labour market.

The job gains in November were concentrated in the private sector, full-time work, manufacturing and construction. However, some industries, such as wholesale and retail trade, finance, insurance and real estate, saw job losses. Younger workers (15 to 24) also faced higher unemployment than other age groups.

Average hourly wages rose 4.8 per cent year over year in November, matching the increase in October. The Bank of Canada is monitoring wage growth for signs of inflationary pressure. Total hours worked across the economy fell 0.7 per cent in November, indicating a weak performance of gross domestic product that month.


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