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5 Things to Know Today: BoC Decision Looms, TSX Sits Near Record Highs

  Saturday, July 11, 2026 Here's what Canadians need to know heading into the week, as markets brace for the Bank of Canada's rate decision and the CUSMA trade file keeps grinding along. 1. The Bank of Canada decides Wednesday, and a hold is all but locked in The Bank of Canada's next rate announcement lands July 15, and virtually every economist on Bay Street expects the overnight rate to stay parked at 2.25% — what would be a sixth straight pause. A stronger-than-expected June jobs report has taken away any urgency to cut, while cooling inflation and lingering trade uncertainty argue against a hike. Expect the accompanying statement to lean on familiar language: steady as she goes. 2. June's jobs report beat expectations, and the jobless rate ticked down Statistics Canada reported employers added roughly 18,000 jobs in June, ahead of forecasts and building on May's much larger 88,000-job gain. The unemployment rate slipped to 6.5%, back to where it stood in Januar...
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Federal Government Boosts Vaccine Injury Compensation Fund with Additional $36 Million

 

The Canadian federal government has recently allocated an additional $36.4 million to the Vaccine Injury Compensation Fund, a program designed to support individuals who have experienced serious injuries or fatalities related to vaccines since the end of 2020. Here are the key details:

  1. Purpose of the Fund:

    • The program was established shortly after COVID-19 vaccines became available to the public.
    • It provides financial compensation to people who suffered adverse effects due to Health Canada-approved vaccines.
    • The goal is to assist those who were seriously impacted by vaccination.

  2. Funding and Administration:

    • The Liberal government initially earmarked $75 million for the first five years of the program.
    • A private firm called OXARO manages the program and disburses valid claims originating outside of Quebec.
    • To date, OXARO has received $56.2 million from Ottawa and has paid out $11.2 million in compensation.
    • Quebec has its own vaccine injury compensation program, which received $7.75 million when the federal program launched.

  3. Recent Funding Boost:

    • As part of the federal budget, the government allocated an additional $36 million to OXARO and Quebec.
    • This funding covers the next two years of the program.
    • The Public Health Agency of Canada contracted OXARO to ensure an impartial claims process.

  4. Eligibility and Claims:

    • The program covers injuries and deaths associated with vaccines approved for any illness.
    • Eligibility criteria include severe, life-threatening, or life-altering injuries resulting in disability, incapacity, birth defects, or death.
    • The available statistics do not specify which vaccines were involved.

  5. Rare Adverse Reactions:

    • Serious adverse reactions to vaccines are extremely rare (affecting less than one in a million people).
    • Nevertheless, the government recognizes its duty to provide support when such reactions occur.
    • Ottawa has also made COVID-19 vaccination mandatory for travel and federal public service employment.

In summary, the additional funding aims to ensure that those affected by vaccine-related injuries receive appropriate compensation while maintaining an impartial claims process. The program underscores the importance of vaccine safety and accountability in public health efforts. 


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